Wednesday, November 12, 2008

Power & Blight District to Cost Taxpayers $4 Million

The fall out from Kay Barnes mayorialship continues to cost taxpayers.

Because the Power & Blight District is failing to meet revenue predictions, Kansas City taxpayers will be expected to kick in upwards of $4 million to help cover the costs of the hundreds of millions in bonds the city issued to build the entertainment venue.

This news adds to the P&L induced costs already being felt by Kansas Citians from closed downtown businesses and drastic revenue declines in the Westport entertainment district.

With the Sprint Center still unable to find an anchor tenant and the downtown loft project resulting in nothing but vacant buildings and foreclosed properties, the fallout from the P&L fiasco is likely to continue as Kansas Citians love affair with the new arena begins to fade over the next 12 to 24 months.

1 comment:

Anonymous said...

Pretty soon folks will go to the P&L district for peace and quiet. As quiet as a tomb down there...