That is assuming 150m per year remains constant. It would significantly increase over years. Unless we get flying cars or some other fancy transportation tech in next 25 years.
And it can't decrease! There's a rider in the contract if the city closes street parking for reasons that the city itself has to pay for the time that the closure occured.
It's fucking absurd and honestly, any politician worth his salt would just rip it the fuck up and say "Fuck you. You made this deal with a corrupt asshole."
The city can't just go around and rip up any contract it doesn't like. Or that now has unfavorable terms. I'm not saying this isn't due to corruption, but that needs to be proven. Because where is the line, who decides what's "obviously" due to corruption, and not just someone being stupid, short-sighted or favoring a quick win now over someone else's problem tomorrow?
Would you enter into a contract with the city (in good faith) if you knew that if that contract becomes unpopular, or is seen as unfavorable, the city might just rip it up? How much profit is too much profit?
Prove that the contract is unlawful, then rip it up.
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u/TheMinick 17d ago
For those who don’t want to do the math, that’s a total of 11.25 billion over the course of 75 years. Bought for 1.1 B