Artist Project / Odd Lots 3

PROPOSAL by Jimbo blachly Install ten parking meters on Matta-Clark strip (2 feet wide, 350 feet long down left wall of alleyway; see bottom photograph and real estate map) in block 3398, lot 16, off of Woodward Avenue, Queens. Attempt to raise enough cash to purchase large derelict masonry foundation located on the island of Manhattan on West 171st Street (see top two photographs).

collection Hire local gang to check on delinquent patrons, tow and resell abandoned vehicles, service the meters, ensure safety for paying patrons’ vehicles, etc.

financials Cost of Purchase and Installation of Ten Parking Meters: $6,000
Meter Rate; 30¢ per three-minute period (monthly checks accepted)
Income: Assuming ten patrons and around-the-clock parking: $1,400 per day
Cost of Hiring Gang: $30 per day
Asking Price of West Side Chunk: $250,000
Down Payment: $25,000 inside of a month!
Monthly Payments: $4,450
Mortgage Rate: 7%
Total Mortgage: $267,000 of which $42,000 is interest. Clear in six years!
Maintenance: Additional funding from arts granting organization.