Nevada Talks about Private Local Governments

Those who have been observant at Disney World have figured out that Disney is its own government.

The biggest clue is the name on the Fire Department: Reedy Creek Improvement District.

Wikipedia describes the government like this:

A five-member Board of Supervisors governs the District, elected by the landowners of the District. These members, senior employees of The Walt Disney Company, each own undeveloped five-acre (2.0 ha) lots of land within the District, the only land in the District not technically controlled by Disney or used for public road purposes. The only residents of the District, also Disney employees or their immediate family members, live in two small communities, one in each city. In the 2000 U.S. Census, Bay Lake had 23 residents, all in the community on the north shore of Bay Lake, and Lake Buena Vista had 16 residents, all in the community about a mile north of Disney Springs. These residents elect the officials of the cities, but since they don’t actually own any land, they don’t have any power in electing the District Board of Supervisors.

Now, Nevada officials are discussing the concept to entice companies wanting to develop land to their own specifications.

“Innovation Zones” are what they are being called.

The Los Angeles Review-Journal reports,

The zones would initially operate within the local county where they are located but would eventually be able to take over the duties of those counties and become an independent governmental body.

The zones would have a three-member board of supervisors that would carry the same powers as a board of county commissioners. And the company or firm applying for the zone would have significant say over who would sit on that board.

Companies would “need to have $250 million, and a plan to invest an additional $1 billion over 10 years into the zone” on areas of at least 50,000 undeveloped acres.

The article even names a prospect:

In 2018, Blockchains, LLC, the tech firm owned by lawyer and cryptocurrency millionaire Jeffrey Berns, purchased roughly 67,000 acres — about the same size as the city of Henderson — of undeveloped, uninhabited land in Storey County at the Tahoe Reno Industrial Center for $170 million.

Since then, the firm has given heavily to political candidates and PACs.

Local county officials want to know how their governments would benefit.


Comments

Nevada Talks about Private Local Governments — 4 Comments

  1. Local economies would benefit from taxes paid by a prosperous project situated in their midst.

    Cryptocurrency-driven projects benefit from decentralized, ‘trustless’ aspects of blockchain.

    Crypto projects succeed or fail based upon the willing participation of users.

    When users are incentivized to participate—by holding and using the project’s native medium of exchange for goods and services and as proof of stake in project…and high demand coupled with strictly limited supply increases value of that token—the project can become a self-fulfilling success.

    Corruption is impeded because every crypto transfer and smart contract transaction is recorded (immutably and forever) on open ledger for all to see.

    It is a bit like any incorporated municipality wherein its citizens are stakeholders.

    If the town is run wisely and without personal corruption driven by centralized authorities: property values rise, and those who live there may lead happy productive lives.

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