That way downtown businesses and sports and entertainment venues will have no need to provide any parking lots. And that land can be changed to profit making businesses instead.
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What about all the parking garages and parking lots that are making a fortune in the cities?
I thought of that, too. Guys like the late Mike Illich and his cheapskate son (owns Detroit Red Wings and Detroit Tigers and hundreds of offices, condos and parking facilities) demand they get the parking revenues as well as get the taxpayers to pay their mortgage for the stadiums supposedly to enrich the areas of the city near them.
A book I leafed through had data proving cities and taxpayers end up paying it all and getting back much less than they paid in civic enrichment but the owners got richer.