Search This Blog

Monday, March 04, 2013

Olathe- Edgerton KS to Provide Corporate Welfare

The City of Olathe- Johnson county's seat of government- is also the county's second-largest city with about 125000 residents.

Recently- the city government of Olathe announced two business deals that involve forgiveness of tax dollars and city credit-rating guarantees (corporate welfare).

One of the deals- according to links to the stories in the KANSAS CITY BUSINESS JOURNAL- is a hotel and convention center complex on the southeast part of the K-7/K-10 interchange.

That involves around $20 million of creatively-juggled Olathe tax dollars.

The other handout is a deal with a firm headquartered in a foreign country (okay- so it's Canada).

Taxpayer Door No. 2 is a deal where Olathe floats bonds- then gets into the speculative real estate business of warehouse/office buildings with the Canadian firm "paying rent."

Then you have Edgerton- a small town located in the far southwest corner of JoCo that needs  new streets- curbs and sidewalks in anticipation of rapid growth with the new and nearby Burlington-Northern intermodal.

Edgerton's town officials are about to guarantee bonds and provide other "abatements and incentives" for a business there. "

No comments: