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You are here: Home / News / Kansas City stuck with bill for downtown project

Kansas City stuck with bill for downtown project

January 13, 2011 By Jessica Machetta

Tax increment financing has backfired on a major project in downtown Kansas City. The city had issued bonds for a redevlepment project expecting tax revenues would be generated that would pay off the bonds and increase the amount of income for the city.

They haven’t … leaving the city having to spend $200,000 of its money on a bond payment this year and, maybe, a half-milion dollars next year.

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