@scottfits called for a Parcel 1 (has long called for it). He’s my proposal:
Don’t buy a parcel because it’s capital intensive ($5M doesn’t go a long way)
Lease one (or numerous) spaces, for Embassy Use
→ Use as a hub for CityDAO in each city (for Web3 in each city)
→ What can you do at the CityDAO Embassy? Talks, meetings, co-working (fun things)
Co-Tenants: CityDAO can invite other DAO’s to be Co-Tenants, as such each Embassy becomes a hub for Web3 in your city, and a bridge between Web3 and the real world
@scottfits please tell me why this should not be Parcel 1… 10.
I would love to see CityDAO buy a Parcel 1 for a couple reasons:
In it for the long term. I want CityDAO to have a piece of land that we consider a long term space for Citizens. We can keep making improvements to the land, build a community space there, etc. and not feel like we are just making improvements for a landlord.
Simplicity of finances. Most landlords aren’t going to take a monthly payment in ethereum. If we buy the land, we don’t have to worry about this.
Long term planning can be accomplished with a long term lease (typically an initial five year term with numerous five year options for a total of … 50 years of optional term or more).
The lease is less capital intensive up front thus the real estate strategy is more scalable. CityDAO’s needs are likely to grow and change and a less capital intensive strategy allows for maximal optionality.
There is no trade-off between financial simplicity and financial practicality. We can get both with good design.
This is 100% negotiable (landlords will take payment in ETH, if we want that) AND I would never want to structure a lease priced in ETH, a deflationary money vs. USD an inflationary money.
If CityDAO buys the land, CityDAO is investing ETH today for land today. Which asset will perform the best in USD terms over the next year, five years, and decade? I say ETH will outperform land and we want to preserve CityDAO’s ETH treasury. Negotiating for long term leasehold is an excellent strategy for capturing the upside of real estate (which is derivative of use). Any lease CityDAO enters into can be sub-leased or terminated in accordance with the terms of said lease (terms The Real Estate Guild negotiates – and @DAOvolution and @MaxRealEstate have consummated numerous leases as Landlord and as Tenant Representation).
Please tell us more about your vision for
Specifically, how will such space be USED. Legal uses are a right set out in zoning/use code, and value is derived from use. All design should be derivative of use.