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Friday, June 29, 2012

Kansas City MO Pollys Set to Give Away The Farm to Lure Kansas-side Firm

Once again- the KC-MO City Clowncil- along with the State of Missouri- are positioning themselves to give a large amount of corporate welfare to lure a firm on the Metro's KANSAS side to Missouri...

In fact- the Clowncil is set to issue "$65-million" of "Chapter 100 (whatever the HELL that  is) bonds to build a building for a company- "Freightquote-" currently headquartered in Lenexa KS- according to this story in the KANSAS CITY BUSINESS JOURNAL.

The KCBJ story says that the City of KC-MO would be the virtual owner of the proposed "200000-square-foot" building that would be built very close to the St. Joseph Health (Medical) Center east of State Line and south of I-435.

That's only the tip of the corporate welfare iceberg...

KC-MO would alter the rules and provisions of those Chapter 100 bonds so Freightquote would get extended benefits (23 years!).

In addition- the building's site (hardly in a dilapidated area) would become a tax-increment financing (TIF) district- funneling more money that WOULD have been paid in taxes back to the company's coffers.

There's more...

According to KCBJ- the State of Missouri also would be involved- "the city’s economic development incentives are expected to be coupled with state-level incentives- including Missouri Quality Jobs- Missouri Build- state sales tax exemptions and recruitment assistance."

Except for the story in the KCBJ- I've seen absolutely nothing about this in or on any of the other of the Metro's "news" sources.

This lifelong Metro Kansas City resident can't wait to move the HELL away from this Corporate Christmasland....

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