CIP-73 CityDAO IRL Citizen Work/Live/Event/Meetup Space

Proposals (CIPs)
1

Following the successful completion of parcel 0, CityDAO is currently exploring options to take on as Parcel 1, the next project. This CIP acts as a stepping stone into real world activities for citizens and to real estate.

CityDAO IRL Citizen Work/Live/Event/Meetup Space is a concept that can exist in all countries, all around the world with a low entry barrier. The first Space will be within the US as a proof of concept to address viability and due to its short timeline for execution.

CityDAO IRL Citizen Work/Live/Event/Meetup Spaces will be social/work/Event spaces network for citizens to gather and interact in the real world. CityDAO is starting a decentralised ownership and community revolution. With over 40,000 members in the community, 10,000 Citizens across the globe and 100s of active contributors, we are set to take over the space. Majority of communication between citizens and facilitators is currently online, through discord channels with Citizens working from home all around the Globe.

CityDAO’s online presence is the beginning of our Network City Revelation. 1000’s of people working on a similar goal from the comfort of their own homes 1000’s of miles apart. The next step in our innovation is establishing an in-real-life space for Citizens and Web3 people to congregate and unite. A space, and future spaces, that Citizens can call home.

The first Citizen Space is designed to be a contemporary living/working/event space of approx. 5000-8000 SqFt. This space will accommodate people at once, working, eating, teaching, learning and attending fun events and hackathons.

The below document is a more in depth overview of the CityDAO IRL Citizen Work/Live/Event/Meetup Space Concept. (This is a working document and comments are encouraged)

Team:

Lyons800 and Co. (To be selected)

Steps:

  1. Research and explore lease opportunities in the US for Embassy 1. This will involve negotiating lease terms, costing, viability, guarantors(If necessary) and more.

  2. 18-25 Property Portfolio. Properties will be researched and selected in favourable locations based on factors such events yearly, taxes, DAO friendliness, Cost per SqFt, Proximity to Major Cities, etc.

  3. Citizens will vote via stake in a favourable location.

  4. Once the location is selected, Embassy Team will move forward with negotiations on Lease terms etc. in that location.

  5. If there are a number of properties available that are similar in value to the DAO, the community will vote on final decision. If not, the team will select.

Estimated Execution Timeline: 45-60 days.

Budget for execution: To be determined

Budget For Property: See Document

15 Likes
2

To confirm, my understanding is that this proposal does not formally allocate any money. It is, rather, a proposal to locate possible alternatives for leasing a shared workspace. If so, I am a little unclear on “step 2” which says there will be an “18-25 property portfolio”. Aren’t all the steps towards renting one single shared workspace? If it means that there will be 18-25 possible locations for consideration, why are so many needed?

Also, the “case study” contained in the document is a hypothetical situation. Is it possible to find an actual case study with numbers from a real co-working space to see their expected vs. actual costs and revenues? Using hypothetical numbers may lead to possibly incorrect results due to factors outside consideration.

3

This will formally allocate funding to carry out the 2 week process to come to an executable conclusion in a property. This funding has not be determined yet but will likely be approve 5-10k for the team depending on responsibilities.

The formal allocation of funding to actually lease the space will depend on a number of factors and will not be available outside of ballpark figures until the initial process is complete.

The 18-25 property portfolio will be an example list of properties across a number of locations in order to showcase interesting opportunities in that location in order to help citizens a to vote on their preferred location. E.g their first choice is Austin, however based on our research, there’s few suitable properties in Austin so they select Denver instead.

The case study is based off actual lease costing advertised as well as staffing salaries and cleaning costs that are accurate.

This is not a co-working space but for the purpose of the business model, yes, a balance sheet from a co-working space will be added for visibility.

Lastly this space is designed to run on a business model to mitigate costs(lease, ops) for citydao in order to scale. The prime purpose is to provide people a space in IrL.

I am keen to use this opportunity to also explore things like harberger taxes etc for citizens memberships etc. in order to cover costs of future successful spaces.

4

I am also keen to explore a sponsored opportunity for other DAOs to get involved.

E.g. another DAO or protocol would like to become part of the embassy center. They will have the option to sponsor an “office” which will allow their token holders limited access to the space also. This will act as a subscription service which will offset some of our costs.

2 Likes
5

This means CityDAO will pay $5000 to $10,000 for your team to spend 2 weeks looking for a rental space? I recommend including an exact amount so people can discuss accordingly. Otherwise, we are being asked to “like” a proposal which is missing critical information. Also, this proposal doesn’t list a team.

6

Don’t worry David, the proposal is a working Doc only.

The team will be completed by end of weekend hopefully.

Also, reading the proposal, you will see that a. This isn’t a co-working space and b. The team is tasked at bringing a parcel to the DAO that is ready for execution. This involves exploring what we can do with leases, if we can get a lease, will we need a guarantor, can we get a loan etc.

The point is to spend as little of the treasury as possible, while providing as many Citizens value as possible.

1 Like
7

I would also like to add that the budget for proposal is not included due to it being deterministic on the number of people required in the team.

It will likely amount to between 1.5-2.5k per member per week with an expected time period of 2 weeks of work required.

8

@lyons800 @Da3vid I think the funding is for a CMA (comparative market analysis) of each property.

9

I will support the DAO getting a coworking space under either of these scenarios:

A) if it is leased at a small expense (less than 100k for a year or more)
or
B) if the DAO purchases a space

I would prefer the space is seen as a gathering place for citizens and I don’t think CityDAO should be in the business of running co-working spaces generally

2 Likes
10

Agreed with David that team + budget will be necessary prior to final vote on snapshot. But otherwise I think this is a great proposal.

Sounds like the real “make or break” will be the next CIP which would present specific properties and ask for a a specific amount to go ahead with one of those, correct?

1 Like
11

Precisely,

The next phase is getting a certain small budget approved for the resources for research.

Costs I estimate to be less than 5k . And about 2 weeks to narrow down options and contact brokers.

2 Likes