Making a mining pool for my city [Thought Challenge]

[uzair]

I was discussing with my friends about an idea. That our small city that has around 90000 people could build our own bitcoin mining firm for our city and have our own pool. 
The electricity cost in my country is the lowest in Europe. Now to challenge the idea I need some facts and I know someone here with more experience can help out or give some true facts.

Basically, we want to make an app for smartphones where everyone who has the app in our city can recover mined bitcoin from our pool. Basically, a universal basic income because our economy sucks (reason bankers and politicians). 

Now to put some structure in my post I will ask some question and if someone wants to answer them please do it, thx 

Let's say we have a capital of $2m to buy the best equipment out there:

what kind ROI could we expect? 
how long would it take to see the first profits?
Is it even possible to do that?

And you need to know that our minimum wage in our country is 150 euros  yes 150 euros imaging living from that 

P.S who guess the country right I will send him 100 dgb