Showing posts with label STAR Bonds. Show all posts
Showing posts with label STAR Bonds. Show all posts

Tuesday, November 15, 2011

Mission Gateway Joke

There are so many things wrong with this story that it is hard to find a starting place.  We are all being duped here by city, county and state officials for their inability to qualify a developer and their inability to sell the blighted field. 

1.  STAR Bonds were issued by Kansas in 2008 for this project as it was proposed to them.  STAR bonds are only issued for "regional attractions" with tourist attractions.  In 2008 this was passed with the thought of an aquarium being put in but with the aquarium going into Crown Center do we really expect someone to put one in Mission?  If the aquarium doesn't get built then the STAR Bonds should be canceled. 

2.  This is Wal-Mart that we are talking about here.  Does Wal Mart really need economic incentives to open a store in JOCO?  It's not like they are going out on a limb and opening a store on Prospect.

3.  How long will it take for these bonds to be paid back (if ever)?  This economy isn't exactly set up to support 150,000 feet of retail and and 150,000 square feet of office space.  Does the state need to pay for the massive screw up that Mission made?

4.  Isn't there a Wal Mart around the corner from this place now?  We are really going to pay for them to move down the street?  Did we finance the opening of their last store?