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Delawareans spent $10,000,000 on transit hub. State leases it to a private company for $1, who will profit on parking. State pays the company $50,000 a year to use the first floor for buses. In 25 years, private company will start to share 25% of profits.https://www.delawareonline.com/story/news/2020/05/22/final-deal-new-wilmington-transit-center-gives-taxpayers-less-than-originally-billed/5224801002/ …
This deal is a perfect example of how government funnels public money to private companies through these public-private "partnerships." We spent $10,000,000 to create an asset that will generate profit for a private company that we have to pay even more to use ourselves.
socializing spending & privatizing profits... #KochNetwork @Tentoads4truth
Has there EVER been a bigger neoliberal scam than the "public-private partnership"?
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