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If you don’t need parking lots, that’s often prime commercial or residential land that can be repurposed.
For instance, LA alone has $1.8 trillion worth of land currently dedicated to parking (nearly 15% of the city’s footprint) and a substantial proportion of that belongs to the state.
The sale (or leasing) of such land is a massive new revenue stream that didn’t exist before.
For instance, LA alone has $1.8 trillion worth of land currently dedicated to parking (nearly 15% of the city’s footprint) and a substantial proportion of that belongs to the state.
The sale (or leasing) of such land is a massive new revenue stream that didn’t exist before.