Bad Math

Kemper is going down, at least that seems to be the case as reported on TV today.  Falling bookings, looming upkeep expenses and a facility that is well beyond its prime.  Solution: Tear it down and build a replacement building.  Small problem.  The previous upgrades are still not paid for, so in effect, the building is "under water".  Oops.  The cost of maintaining the Kemp is around $1 million...annually.
The fix?  Build a smaller venue that is aimed more at the Royal crowd with partial public funding, how much remains to be seen  And P&L continues to underperform, another tax supported endevour.  And KC is in a deep, dark financial hole.
In the meantime they (KCMO) promise upgrades to the lift stations at WL.  Jerry says three to five years.  Ok.