CityDAO is seeking a large parcel of land that will become our homeland - a place for Citizens to visit, build on, and call our HQ. This proposal authorizes up to $1.75m to be used to purchase a property through the Purchasing Process outlined below.
Why
Parcel 0 was a huge success for CityDAO, but it is a small, remote, and barren parcel that is not practical to invest in and improve. CityDAO should unite behind a big piece of property that DAO members are excited to improve and visit.
Right away, Citizens will be able to camp and use the land recreationally. After purchasing the property, additional CIPs can be made to improve and build on the property.
Purchasing Process
Upon passage of this CIP, we will host a 2 week sprint to collect ideas for properties to buy. The sprint can be extended by 2 weeks if agreed by the multisig.
At the end of the sprint, the top 3 properties will go to a Snapshot survey immediately, and the top property will be purchased.
If no property gets above 51% of votes or if the property acquisition falls through, the the process will be repeated up to 3 times. After 3 times, the sprint ends and no property is acquired.
Rules
Any Citizen may submit a property that confirms to the Requirements, outlined below.
Hard requirements:
Within 1 hour of an airport, strong preference for international
Can connect to an electric grid, water and internet.
Low maintenance and upkeep costs
A pleasant place to visit
Strong preferences:
Flexible zoning: We want to empower a variety of DAO activities on the parcel - from gatherings to solar bitcoin mining, camping, etc - it’s important we keep it open to a variety of people
Price range: Between $500k and $2m. This is meant to be a significant purchase - the main asset of the DAO.
Close proximity to water (lake, river, sea) ?
Required info for property submission:
Submission Requirements: (mandatory entry fields for submissions)
Price:
URL to sale details
City, State, Country
Zoning type
Description of the property
Water availability type
Electrical availability
Internet availability:
Road connection type
Team
There will not be a formal team - instead, the DAO will collectively pitch in to run the process above, manage the property, decide what gets built, etc
Finders fee
If you submit a property that the DAO buys, you will be awarded 1.0 ETH when the property purchase closes.
General support for another land purchase but feel this proposal needs to outline additional considerations for a potential competition. For example, I believe the funds earmarked for this could be stratified into 3 purchasing options, each with their own upper limit. This would categorize different types of properties into different segments for consideration without diluting the entire Treasury on a parcel of land without any utility.
Disclaimer: Values below are meant to illustrate the logic and not necessary indicative of proper threshold amounts.
Base Tier: ≤ $750,000
Unimproved land or minimal infrastructure existing
Treasury retains enough capital to build out infrastructure on the land
Middle Tier: ≤ $1,200,000
Existing structure on property
Utilities all provided
Renovation work may be required for CityDAO to occupy and utilize
Upper Tier: <=$1,750,000
Move in ready property will no to minimal renovation work required
CityDAO could possibility generate income off this property upon purchase
At the close of the competition there could be a winner for each category where then CityDAO citizen’s review the best option to proceed with.
I love the idea of having a Homeland where people can come and collaborate.
I like it even more if we can actually make this purchase profitable.
I think that without a particular plan/business plan on how to use the property, we might just end up buying that just for the sake of buying it.
I think that buying property for 2/3 of the treasury would be stretching our treasury and it requires presenting some sort of a business model on how to make it a good ROI.
We had a discussion yesterday regarding possible fundraising so the DAO does not pay for the whole property with the treasury, so we should consider doing that.
I support this. I think having land which is practical to get to and build upon will be a good place for citizens to visit, improve, and a place to practice building on. Taking a small first step like this is critical. We need to walk before we can run.
My only question is the amount of money. Maybe a price closer to half the money in the treasury would be a better idea. Not sure what we could get with that amount. The land in the zillow link looks awesome.