TKC EXCLUSIVE!!! CHECK OUT THE TERRY RILEY PLAN TO RAID THE EDC!!!

With Mayor Funky out of town along with a significant portion of the City Council . . . Nobody is minding the store at City Hall. They're playing fast and loose with Kansas City cash and KICKASS TKC TIPSTERS are bringing the details to light.

To wit, the latest Terry Riley plan is yet another recipe for financial disaster in this town.

To wit, check out Ordinance #090447

COUNCIL DUDE TERRY RILEY IS PLANNING ON SENDING OVER CASH TO HIS BUDDY JEFF YATES AT THE FINANCE DEPARTMENT IN ORDER TO HANDLE ECO DEVO ISSUES THAT BELONG WITH THE ECONOMIC DEVELOPMENT CORPORATION!!!

Here's the language of the hot mess:

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 090447

Reducing appropriations in the General Fund in the amount of $400,000.00; estimating $110,000.00 in revenue from the New Market Tax Credits CDE; appropriating $510,000.00 to various accounts in the General Fund to pay for development finance services.

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the following appropriation in the General Fund is reduced by the following amount:

10-1000-121462-619080 Economic Development Corporation $300,000.00
Section 2. That the appropriation in the following account of the General Fund is reduced in the following amount:
10-1000-179990-B Contingent Appropriation $100,000.00
Section 3. That the revenue in the following account of the General Fund is estimated in the following amount:

10-1000-120000-481000 Miscellaneous Contribution NMTC CDE $110,000.00

Section 4. That the sum of $510,000.00 is appropriated from the Unappropriated Fund Balance of the General Fund to the following accounts in the General Fund:

10-1000-121460-A Development Finance $454,195.00
10-1000-121460-B Development Finance 52,605.00
10-1000-121460-C Development Finance 3,200.00
TOTAL $510,000.00

_____________________________________________

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

___________________________________
Jeffrey A. Yates
Director of Finance

Approved as to form and legality:


___________________________________
Heather A. Brown
Assistant City Attorney

Once again, TKC TIPSTERS are saying that Mayor Funky is unwisely trading favors with Riley based on the silly notion that this kind of irresponsible financial plan might just deliver Kansas City's African-American vote.

The only thing that's certain is the politicos who are "smart with the money" are simply non-existent in this town.

And here's the thing . . . I think Terry Riley could be the next Mayor of Kansas City if he would just stay away from these unwise high finance moves. Riley is a gentleman and a scholar and he really does understand more about working with people on the neighborhood level than anyone currently serving on the City Council.

My hope is that TKC Tipsters have shown the promising young man the way . . . And he'll steer clear of these risky financial shenanigans that ultimately lead nowhere.