https://vimeo.com/851467740
https://docs.google.com/spreadsheets/d/152kX9W8a-bSq1x16h2uPf-9Ojhm6yiqT6a2IgU9ShOc/edit#gid=0
This CIP authorizes the purchase of a multi-functional space in Denver, Colorado that will serve prominently as CityDAO’s City Hall. The space will be collectively owned by CityDAO and available for Citizens to co-work in, serving as a home base for Citizens to build especially during ETH Denver.
The space can be opened up (or rented out) for events, hackathons, build weeks, and used as co-working to achieve a sustainable business model. This CIP allows for the acquisition of the property but does not force CityDAO to acquire one or operate any specific activities.
Once acquired, the following uses can be immediately considered:
By securing the property, this CIP provides CityDAO with the flexibility to explore various optional avenues for community engagement, innovation, and revenue generation, as deemed fit and approved by the DAO's governance mechanisms.
Flexible allocation The budget outlined is based on current estimates and while it will not exceed 1.63m, may be re-allocated within these categories based on actual needs and unforeseen circumstances. Upon approval from the CityDAO Multisig signatories, the team may redistribute funds between budget categories (Property Cost, Operating Expenses Reserve Fund, Project Budget) up to a limit of 10% of the total allocation without requiring an amendment to this CIP.
This project is fundamentally a DAO-driven initiative and CityDAO citizens retain the ultimate authority and responsibility for the project. While the DAO provides oversight and final approvals, a dedicated Project Team is in place to execute on the DAO's directives and manage day-to-day operations. The Project Team serves as an extension of CityDAO, carrying out the technical, operational, and strategic tasks necessary to bring the project to fruition.
Scott: Lead Coordinator Roles: Property tours, broker liaison, contract management, and other necessary duties.
Lyons: Strategy & Operations Roles: Community engagement, space utilization, and other necessary duties.
Specialists: Legal advisors, property managers, and architects Roles: To be hired from the project budget as needed.
HQ Task Force: Community Liaisons Roles: Real-time updates, property vetting, and community feedback
Note: While the Project Team will endeavor to select and operate the best possible space, there are no guarantees concerning the quality of the space, revenue generation, or specific use of the space.
Sample Property Selection Process and Criteria
While the criteria and sample process outlined are designed to guide the property selection towards the most favorable outcome for CityDAO and its members, it is understood that unique opportunities and challenges may arise. Therefore, the Project Team reserves the right to adjust these parameters as deemed necessary for the benefit of the project and community.
1641 California St, Denver, CO 80202
5134 W 29th Ave, Denver, CO 80212
0-30 days: After the CIP passes, a search will immediately begin for properties. Scott, Lyons, and other interested Citizens will fly out to Denver and tour properties to get a feel for the market and our options. The initial $30k will be converted to fiat for travel to Denver, broker fees, and in preparation for making a deposit. We'll start sharing our favorite properties with Citizens in Discord. 30-60 days: Narrow down the list of properties. Record video tours of the properties, do diligence and put together a plan on the estimated costs and benefits of owning each of the properties. For each property, we will compile a report, video tour, and share them for feedback with the DAO. 60-90 days: If a promising property is identified, we will present it to the DAO on a community call for feedback, questions, and comments. After identifying one we are excited about, we will ask the DAO to do an informal "temp check" vote on that property (not a CIP). If the vote passes, the multisig will offramp up to $1.5m for purchase of the property and transfer $100k in reserve funds to the Property Multisig.
After closing on the property, we will plan a CityDAO Build Week where we will invite citizens to come set up the space and help with furnishing, signage, and decorations. We will also try to involve remote Citizens who cannot attend in person for things like design and ideas for the space. Budget permitting, we can subsidize travel and lodging for interested Citizens.
After acquisition, the property will be overseen by a multisig consisting of Scott, Lyons, and one independent member appointed by the CityDAO Multisig or CityDAO Council if the CIP authorizing its creation passes. They will steward the reserve funding in the multisig, from which they will handle things like property management, taxes, and ops hires. Property Multisig shall make best efforts to ensure the property is well kept and managed.
If City Hall is unable to sustain ongoing operations due to lack of revenue, management conflict, or other unforeseen circumstances, then the property shall be sold and all funds returned to the CityDAO treasury.