News Bannister Mall: the new home of the Wizards. Watch KC screw this up. - Page 4

**BigRedChief** · 12-06-2007, 07:23 AM

KC will screw this up. They had Bass Pro ready to go in abut they didn't want to give them TIF. Just what tax revenue are they getting now from that area? It's a wasteland.

http://www.kansascity.com/business/story/391605.html

Funkhouser opposes Super TIF for Bannister Mall redevelopment

By KEVIN COLLISON
The Kansas City Star Kansas City Mayor Mark Funkhouser said Wednesday that he opposed extraordinary tax breaks to help the Bannister Mall area redevelopment plan — incentives that backers say are vital for success.“It’s a wonderful project. I’m ready to sign off,” Funkhouser said at a development forum where he made a public appearance early in the day. “But I can’t stomach 23 years of Super TIF.”

Funkhouser later elaborated in a statement saying that while he was “excited” about the prospect of redeveloping the vacant mall property in south Kansas City, he wouldn’t support the $43.5 million in Super Tax Increment Financing being requested as part of the package to help finance the development.
Under Super TIF, all rather than just part of the local taxes generated by a project are diverted to help defray eligible costs.

The ambitious Three Trails redevelopment proposal, valued at almost $1 billion when fully built over 10 years, calls for a mixed-use development anchored by a new stadium for the Wizards professional soccer team. It would include a 12-field tournament-style soccer complex; a 250-room hotel; 609,000 square feet of retail space; and 610,500 square feet of office space.

The developers are seeking $273.3 million through a variety of local and state tax incentives to help finance the project.

“I want to see the Three Trails redevelopment happen,” Funkhouser said. “But I don’t intend to support the current plan without more thorough discussion and, at least, the removal of the Super TIF requirement, which redirects 100 percent of any new property, sales and earnings taxes back to the project.”

The development group backing the project, which includes top executives of Cerner Corp. and Lane4 Property Group, contends that Super TIF is needed to fill a financial gap for the project.

It remains unclear what effect Funkhouser’s position with have on the development group’s pursuit of the project at the Bannister Mall site. The developers have sought a decision by the Kansas City Council by the end of December to meet a construction timetable that calls for the soccer stadium to be open by spring 2010.
Project backers, who have considered alternative sites elsewhere in the area, could not be reached for comment after Funkhouser’s statement.

Besides the use of Super TIF, Funkhouser also objects to the plan’s provision that the city own the soccer stadium, saying it would require long-term expense and attention.

“The construction of the city-owned Sprint Center required a new tax and public vote, yet we are considering this plan with neither,” Funkhouser said in his statement. “I want to be sure we have thought through that decision and its fiscal impact on the city.”
The mayor’s announcement threw a new twist into a discussion that already had gotten off to a poor start earlier in the day.

At a meeting of the council’s Finance and Audit Committee, at which dozens of people testified, most favored the project. But Chairwoman Deb Hermann postponed a recommendation on the project after becoming frustrated by widely differing economic impact estimates submitted to her panel.

The city’s Finance Department issued an analysis indicating that the city would have a $41 million negative impact over the 23-year life of the project’s proposed financing. An analysis by the Economic Development Corp., in contrast, indicated a $45 million net benefit over the same period.
Both groups use different ways of evaluating the economics, and Hermann decided to seek additional time to sort out the issue.

Her committee has one more meeting scheduled before the end of the year.

“You just can’t give me a scenario with an $86 million swing,” Hermann said. “I’m not a financial expert. That’s why we have a Finance Department.”

Further complicating matters, Councilman John Sharp, a strong supporter of the Three Trails project, said Funkhouser had received a letter from state officials stating that any state aid for the project was contingent on the city’s granting the Super TIF assistance.

The project seeks $20.7 million in state tax-increment financing and $10 million in state tax credits.

Pitt Gorilla · 12-06-2007, 02:18 PM

I'm still sad that KC didn't get the Penguins. THAT would have been awesome.

**BigRedChief** · 12-06-2007, 02:20 PM

Quote:

Originally Posted by Silock

No, people drop out of soccer because there's not the promise of full-ride scholarships followed by multi-million dollar pro-sports contracts. If pro soccer paid as well as the NFL or MLB, I guarantee you people wouldn't drop out so quickly. And people aren't dropping out as quickly as they used to.

Yes but thats true about anything. If people that worked cleaning toilets got paid NFL money everyone would want to be a toilet cleaner.

Silock · 12-06-2007, 02:20 PM

Quote:

Originally Posted by memyselfI

They are serious contenders now.

No way. Not even close. We're not even the highest ranked team in our region. We, like the NL Central, benefit from having weak teams all around us. It's really holding us back. Mexico was our only serious contention for the Gold Cup. For some reason, we own them lately, but they're still considered a much better team than we are.

And then we send a scrub team down to the South American championship, and make total fools out of ourselves. Granted, not all of our players could get released from their club teams to come play because it wasn't our regional championship, but still. The US is not considered a serious contender right now.

If we had to play better teams in qualifying, like they do in South America, then yeah, we'd get better. But when you have to play all these central american teams with less total population than the state of Rhode Island, you're not really proving anything.

Silock · 12-06-2007, 02:23 PM

Quote:

Originally Posted by BigRedChief

Yes but thats true about anything. If people that worked cleaning toilets got paid NFL money everyone would want to be a toilet cleaner.

I'm just saying that it's not because they don't enjoy the sport and lose interest. There's a lot of peer pressure to drop out of a "pussy" sport and participate in a "real" one, like football.

Even a guy like Chad Johnson has said that if soccer paid as well as the NFL, he'd love to play soccer. He even warms up on NFL fields with a soccer ball sometimes.

ChiefsCountry · 12-06-2007, 02:29 PM

If I recall the new soccer stadiums they build now have a concert stage built in and they play high school football in it as well. Plus doesnt Cerner have one of its complexes right down the street and they own the Wizards, makes sense for them.

Valiant · 12-06-2007, 02:57 PM

Quote:

Originally Posted by dtebbe

My son was like that at first, but once he figured out he could just wait a few plays and give it back, he suddenly liked football... A LOT.

Last year was his first year, it will be interesting to see if he wants to do it when it comes time to sign up again. Hopefully I can pack a few pounds on him this offseason

DT

Must be easy for little billy to dish out the hits on the fifth graders when he 35 years old.. Hopefully he will crack the schoolyard allstar team this year..

Silock · 12-06-2007, 04:11 PM

Quote:

Originally Posted by ChiefsCountry

If I recall the new soccer stadiums they build now have a concert stage built in and they play high school football in it as well. Plus doesnt Cerner have one of its complexes right down the street and they own the Wizards, makes sense for them.

On Goal owns the Wizards. I don't think they're part of Cerner, but I could be wrong.

Demonpenz · 12-06-2007, 04:18 PM

IT would be within walking distance of golddiggers

stanleychief · 12-06-2007, 05:37 PM

Oddly enough, I happened to watch the city council subcommittee meeting on local cable when they were discussing this. I think some facts here are inaccurate. First of all, 71% of the funding for the project was to be privately funded. Johnson County is even kicking in some money for this, although it was unclear how much.

The super TIF must pass, or the project will essentially be dead. No super TIF = no state funds = dead in the water. I doubt they'll present another funding option to the city if this fails. I'm sad to say it, but it seems like the city is more than happy to let this part of the city continue to decline. I'm not sure there is anything that could be placed out here that would be a success given the surrounding area. It's a real shame too because the mall sits at the intersection of three major highways, all of which are currently being renovated. Can't ask for a much better location.

Demonpenz · 12-06-2007, 05:41 PM

There is some sort of Dean catipillar plant being built on 87th and 87th now is two lanes to 71.

jiveturkey · 12-06-2007, 06:06 PM

I haven't read all of the responses but I think that they should just let that area die already. Knock everything down and plant some trees.

There's no point forcing a square peg into a round hole.

As soon as someone gets mugged in the parking lot all of the JoCo soccer moms are going to avoid the area like the plague.

JoCo needs to sack up and actually build it's own crap. It's nice being a leach community and all but you eventually need to contribute something. I would suggest The Legends area but that gets JoCo off the hook again.

And this is coming from one of the a-holes in JoCo.

Deberg_1990 · 12-06-2007, 06:23 PM

Quote:

Originally Posted by jiveturkey

I haven't read all of the responses but I think that they should just let that area die already. Knock everything down and plant some trees.

There's no point forcing a square peg into a round hole.

As soon as someone gets mugged in the parking lot all of the JoCo soccer moms are going to avoid the area like the plague.

I dont live in the KC area, but im familiar with it since i grew up there.

Ive seen projects like this, or similiar projects revitalize parts of other cities, why wouldnt it work in KC?

Shouldnt they at least try???

jiveturkey · 12-06-2007, 06:45 PM

Quote:

Originally Posted by Deberg_1990

I dont live in the KC area, but im familiar with it since i grew up there.

Ive seen projects like this, or similiar projects revitalize parts of other cities, why wouldnt it work in KC?

Shouldnt they at least try???

They did and it failed.

It's a wasteland. If Walmart can't survive a soccer stadium sure as shit won't.

Deberg_1990 · 12-06-2007, 06:48 PM

Quote:

Originally Posted by jiveturkey

They did and it failed.

It's a wasteland. If Walmart can't survive a soccer stadium sure as shit won't.

IM sorry, but Wal-Mart doesnt usually attract the upscale crowd.

jiveturkey · 12-06-2007, 07:19 PM

Quote:

Originally Posted by Deberg_1990

IM sorry, but Wal-Mart doesnt usually attract the upscale crowd.

The upscale crowd won't want anything to do with this part of town.

12-06-2007, 07:23 AM
BigRedChief Has a particular set of skills Join Date: Dec 2003 Location: On the water Casino cash: $3179627 VARSITY	Bannister Mall: the new home of the Wizards. Watch KC screw this up. KC will screw this up. They had Bass Pro ready to go in abut they didn't want to give them TIF. Just what tax revenue are they getting now from that area? It's a wasteland. http://www.kansascity.com/business/story/391605.html Funkhouser opposes Super TIF for Bannister Mall redevelopment By KEVIN COLLISON The Kansas City Star Kansas City Mayor Mark Funkhouser said Wednesday that he opposed extraordinary tax breaks to help the Bannister Mall area redevelopment plan — incentives that backers say are vital for success.“It’s a wonderful project. I’m ready to sign off,” Funkhouser said at a development forum where he made a public appearance early in the day. “But I can’t stomach 23 years of Super TIF.” Funkhouser later elaborated in a statement saying that while he was “excited” about the prospect of redeveloping the vacant mall property in south Kansas City, he wouldn’t support the $43.5 million in Super Tax Increment Financing being requested as part of the package to help finance the development. Under Super TIF, all rather than just part of the local taxes generated by a project are diverted to help defray eligible costs. The ambitious Three Trails redevelopment proposal, valued at almost $1 billion when fully built over 10 years, calls for a mixed-use development anchored by a new stadium for the Wizards professional soccer team. It would include a 12-field tournament-style soccer complex; a 250-room hotel; 609,000 square feet of retail space; and 610,500 square feet of office space. The developers are seeking $273.3 million through a variety of local and state tax incentives to help finance the project. “I want to see the Three Trails redevelopment happen,” Funkhouser said. “But I don’t intend to support the current plan without more thorough discussion and, at least, the removal of the Super TIF requirement, which redirects 100 percent of any new property, sales and earnings taxes back to the project.” The development group backing the project, which includes top executives of Cerner Corp. and Lane4 Property Group, contends that Super TIF is needed to fill a financial gap for the project. It remains unclear what effect Funkhouser’s position with have on the development group’s pursuit of the project at the Bannister Mall site. The developers have sought a decision by the Kansas City Council by the end of December to meet a construction timetable that calls for the soccer stadium to be open by spring 2010. Project backers, who have considered alternative sites elsewhere in the area, could not be reached for comment after Funkhouser’s statement. Besides the use of Super TIF, Funkhouser also objects to the plan’s provision that the city own the soccer stadium, saying it would require long-term expense and attention. “The construction of the city-owned Sprint Center required a new tax and public vote, yet we are considering this plan with neither,” Funkhouser said in his statement. “I want to be sure we have thought through that decision and its fiscal impact on the city.” The mayor’s announcement threw a new twist into a discussion that already had gotten off to a poor start earlier in the day. At a meeting of the council’s Finance and Audit Committee, at which dozens of people testified, most favored the project. But Chairwoman Deb Hermann postponed a recommendation on the project after becoming frustrated by widely differing economic impact estimates submitted to her panel. The city’s Finance Department issued an analysis indicating that the city would have a $41 million negative impact over the 23-year life of the project’s proposed financing. An analysis by the Economic Development Corp., in contrast, indicated a $45 million net benefit over the same period. Both groups use different ways of evaluating the economics, and Hermann decided to seek additional time to sort out the issue. Her committee has one more meeting scheduled before the end of the year. “You just can’t give me a scenario with an $86 million swing,” Hermann said. “I’m not a financial expert. That’s why we have a Finance Department.” Further complicating matters, Councilman John Sharp, a strong supporter of the Three Trails project, said Funkhouser had received a letter from state officials stating that any state aid for the project was contingent on the city’s granting the Super TIF assistance. The project seeks $20.7 million in state tax-increment financing and $10 million in state tax credits.
Posts: 78,971

12-06-2007, 02:18 PM	#46
Pitt Gorilla Banned! Join Date: Sep 2000 Location: NOT Columbia, MO 65201 Casino cash: $2990194	I'm still sad that KC didn't get the Penguins. THAT would have been awesome. __________________ Your son is a bench warmer because of your weak genetics not because of the coach Norlin Mommsen is disgusting.
Posts: 46,000

12-06-2007, 02:29 PM	#50
ChiefsCountry The Insider Join Date: Jan 2004 Location: Lake of the Ozarks Casino cash: $2358752	If I recall the new soccer stadiums they build now have a concert stage built in and they play high school football in it as well. Plus doesnt Cerner have one of its complexes right down the street and they own the Wizards, makes sense for them.
Posts: 49,569

12-06-2007, 04:18 PM	#53
Demonpenz I got Rice cookin in the micro Join Date: Nov 2003 Location: Apartment "G UNIT!" Casino cash: $3162136	IT would be within walking distance of golddiggers __________________
Posts: 54,263

12-06-2007, 05:37 PM	#54
stanleychief Veteran Join Date: Aug 2002 Location: Kansas City, MO Casino cash: $5276254	Oddly enough, I happened to watch the city council subcommittee meeting on local cable when they were discussing this. I think some facts here are inaccurate. First of all, 71% of the funding for the project was to be privately funded. Johnson County is even kicking in some money for this, although it was unclear how much. The super TIF must pass, or the project will essentially be dead. No super TIF = no state funds = dead in the water. I doubt they'll present another funding option to the city if this fails. I'm sad to say it, but it seems like the city is more than happy to let this part of the city continue to decline. I'm not sure there is anything that could be placed out here that would be a success given the surrounding area. It's a real shame too because the mall sits at the intersection of three major highways, all of which are currently being renovated. Can't ask for a much better location.
Posts: 1,193

12-06-2007, 05:41 PM	#55
Demonpenz I got Rice cookin in the micro Join Date: Nov 2003 Location: Apartment "G UNIT!" Casino cash: $3162136	There is some sort of Dean catipillar plant being built on 87th and 87th now is two lanes to 71. __________________
Posts: 54,263

12-06-2007, 06:06 PM	#56
jiveturkey Captain Kick Ass Join Date: Sep 2001 Location: Kansas Casino cash: $9305197	I haven't read all of the responses but I think that they should just let that area die already. Knock everything down and plant some trees. There's no point forcing a square peg into a round hole. As soon as someone gets mugged in the parking lot all of the JoCo soccer moms are going to avoid the area like the plague. JoCo needs to sack up and actually build it's own crap. It's nice being a leach community and all but you eventually need to contribute something. I would suggest The Legends area but that gets JoCo off the hook again. And this is coming from one of the a-holes in JoCo.
Posts: 5,781