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Smart City Memphis: Overton Square Economics

November 21, 2011 LPI Memphis

"We thought of Cosmo Castorini in Moonstruck as City Council talked about the proposal to build a publicly-funded garage in Overton Square: “It costs money because it saves money.”

City government may appear to be saving money if it turns down the $6 million garage, but in the long-run, the decision will cost much more in lost revenues, lost opportunities for reviving the area, and lost new revenues that could pay for the garage and put more money in city coffers."

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