Early 2000, Power & Light District Proposal, Kansas City, Mo
Build, and they will come.
Come, and they will spend.
Defer maintenance to cover the debt. (FYI: But first, please have your chiropractor give you and adjustment, as you’ll be craning your neck looking the other way at the cost, namely, the higher crime rate, the condition of the schools, and the subsequent middle class fleeing the city.)
Because building it will pay for itself.
Fast-forward to excerpts taken from an article dated February 7, 2015, by Lynn Horsley, of the Kansas City Star
“I don’t think there will be a point at any time in the foreseeable future, probably the next 20 years, where it actually pays for itself, acknowledged City Manager Troy Schulte. Sales, property and earnings tax revenues to help pay the debt have ranged from $4.5 million to $5.4 million in recent years, according to the city.
But, Schulte noted, that’s only about 25 to 30 percent of what’s needed each year. Taxpayers are covering the rest.”
Summing up: Ms. Horsley, when The Kansas City Star endorsed Mark Funkhouser for Mayor way back in 2007, is was based on his predictions – predictions which you’ve just stated have come home to roost. But Ms. Horsely, I can’t find his name anywhere in the article. Perhaps it was an oversight.
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