Awesome, initiative @onceuponatime! Your work is really beautiful and I agree with you the graffiti you cover up with paint looks just awful. Seriously makes me want to puke. Your work actually makes the buildings look fresh and brand new.
Some graffiti in my home town, which is usually pre-agreed with the state looks much nicer than the building itself. For example:
Bonus question:
I doubt that they had graffiti back than. So the walls should have been pretty clean :))