TKC BREAKING NEWS!!! KICK-ASS TKC TIPSTERS EXPLAIN HOW MUCH K-PAC REALLY COSTS KANSAS CITY TAXPAYERS!!!

Amid all of the hoopla and celebration regarding The Kaffman Center for the Performing Arts there has been very little mention of the cost to Kansas City Taxpayers.

Strange, because there really isn't that much demand for upscale entertainment and a big barn that played Country Music would have been far more viable in this cowtown.

To wit . . .

KICK-ASS TKC TIPSTERS BREAK DOWN THE REAL COST OF K-PAC PAID FOR BY KANSAS CITY PROPER!!!

Here's the damage . . .

"Kansas City sold $47 million capital appreciation bonds for the 1,000 car parking garage for the Performing Arts Center that would be paid back over 20 years from casino revenues earmarked to pay for city streetlight improvements. The streetlight bonds are to paid off in about seven years. Capital appreciation bonds are a fancy term for a balloon mortgage. The City will be only be paying a minimal amount($90,000 to $100,000) for the first 10 years then the payment balloons to $9 million in the 11th year. Capital appreciation bonds total cost would be $91 million. The regular 20 year bonds would cost $80 million.

The previous city council took a shortcut instead of asking for a new source of revenue(tax) or using the 1% cid sales tax revenue. They just took the revenue source for public improvements to maintain the city for just one project."

Never doubt that this VITAL AND KICK-ASS TKC TIPSTER information on the money is from somebody who knows about this stuff to a much greater extent than this broke-ass blogger struggling to buy breakfast sandwiches at QT.

Still . . . The REAL PRICE of this Downtown monstrosity has been heretofore neglected by the media given that it doesn't make such a pretty picture and demonstrates Kansas City throwing good money after bad in the ongoing attempt to lure people downtown at the cost of every other neighborhood.

DEVELOPING . . .