K.C. Subsidies Stop Making Sense

I'm reminded of the Talking Heads song Once in a Lifetime when reading about yet another scheme to subsidize more luxury high rises in downtown Kansas City. With apologies to Talking Heads, I have found myself reading about developer subsidies. I have found myself again wondering how all this public spending on downtown is benefitting taxpayers. I have asked myself, "How did we get here?"

It is, alas, same as it ever was. Cordish Cos. is again pushing Kansas City for more taxpayer-funded subsidies. This time, it's for its $156 million, 24-story Four Light luxury apartment tower. And it is already laying the groundwork for a fifth (Four Light would be the fourth luxury apartment for Cordish Cos.). The catch? Cordish Cos. wants to declare part of the Power & Light District an "undeveloped industrial area" to qualify for incentives-an absurd claim for property it controls.

These developer handouts are draining the city of the resources it needs to provide basic public services. This isn't about revitalizing a struggling neighborhood-it's about maximizing profits for wealthy and well-connected developers at the public's expense.

Kansas City needs to end this cycle. If Cordish believes there's demand for Four Light, let it fund it privately. If the city thinks there is too much regulation or taxation, leaders should reduce it for everyone, not a select few.