city makes a nice buck from street furniture revenues

by:BoomDear Wood     2020-03-17
Taxpayers in Toronto got a good deal in front of the public.
Private partnership, free street furniture and decent income for the city.
Our last column focused on 20-
A one-year contract with Astral Out of Home, which is often used to break.
However, in the middle of the transaction, it is unfair not to emphasize some of the positive factors in a report to the city council, including good news about transit shelters, the money the city earns every year.
Ten years later, Toronto received more than $0. 168 billion in revenue, including $19.
The previous fiscal year was 3 million.
When the deal expires in 2027, the city will receive at least $0. 445 billion in revenue.
The minimum annual income guaranteed for the current fiscal year will exceed $20 million and may even increase.
This is equivalent to 32 of the total revenue of Astral advertising and is a fixed percentage of the remainder of the contract.
24,500 street furniture also available-
It includes garbage bins, waiting booths, benches, information posts, poster boards, and even public toilets.
Worth $0. 202 billion, taxpayers are not required to bear any costs.
So far, there are front lines in the Star World.
The agreement promises to provide 3,944 new transit shelters, including 5,071 promised for more than 20 years, mainly as a replacement for aging \"legacy\" shelters.
For TTC riders, there is a gold block here, and they are eager to have a shelter at the station where there is currently no shelter: most of the new shelters \"are now installed in places where there has never been a shelter before, there will be hundreds more in the next few years.
Therefore, the focus on future shelters will be on placing them at stations where they can really be used.
Where there is not enough space to accommodate all the people
The city has allocated $100,000 to cover a large enough housing area, starting at 24 locations. Public-
Private partnerships seem to be more beneficial to private partners than public partners.
But it looks like it\'s a good deal for everyone.
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