Thursday, February 21, 2019
Mayor Michael Hancock's $14 million sign boondoggle
“14 million bucks is a lot of money,” one traveler said Tuesday, echoing the concerns of others.” In December of 2016, Denver officials told FOX31 it would take, at most, eight years to get the cost back in advertising dollars. The city has only seen a fraction of return and now says it could take a decade to break even. To help solve the problem, city leaders are hoping OUTFRONT Media LLC will have the expertise to drum up business and see the money pour into airport coffers. The firm would receive a fee from advertisers and pay the airport $150,000 or 67 percent of the gross ad sales, according to the airport. DIA admits it wasn’t proactively selling ads in 2018 and only grossed $21,000 on the mega investment. “I think the money in the bank would’ve done a better return,” a Denver tourist told FOX31.
Posted by DenverCommunityNewspapers at 3:11 PM