Dive Summary:
- In a contract with Colorado Springs Utilities, Physicist David Neumann will receive 10 percent of on every purchase related to his emission control technology.
- The contract, which is worth $73.5 million overall, has no deadline for completion or spending cap and Neumann is paid as work is completed.
- City Councilman Tim Leigh was among a group opposed to the deal on the grounds that the contract lays all the risk on ratepayers and Colorado Springs since Neumann is paid as he completes work regardless of whether the technology ultimately works.
From the article:
A local inventor whose emissions control technology is being funded by Colorado Springs Utilities is guaranteed to make a profit even if the system fails.
The $73.5 million contract between physicist David Neumann and Utilities is a cost plus 10 percent contract, which means Neumann gets 10 percent on every purchase. ...
