{"action":"created","issue":{"url":"https://api.github.com/repos/decentraland/proposals/issues/8","repository_url":"https://api.github.com/repos/decentraland/proposals","labels_url":"https://api.github.com/repos/decentraland/proposals/issues/8/labels{/name}","comments_url":"https://api.github.com/repos/decentraland/proposals/issues/8/comments","events_url":"https://api.github.com/repos/decentraland/proposals/issues/8/events","html_url":"https://github.com/decentraland/proposals/issues/8","id":243186116,"number":8,"title":"Ensuring LAND is put to good use and not just held or abandoned ","user":{"login":"dwrowley","id":7913484,"avatar_url":"https://avatars0.githubusercontent.com/u/7913484?v=4","gravatar_id":"","url":"https://api.github.com/users/dwrowley","html_url":"https://github.com/dwrowley","followers_url":"https://api.github.com/users/dwrowley/followers","following_url":"https://api.github.com/users/dwrowley/following{/other_user}","gists_url":"https://api.github.com/users/dwrowley/gists{/gist_id}","starred_url":"https://api.github.com/users/dwrowley/starred{/owner}{/repo}","subscriptions_url":"https://api.github.com/users/dwrowley/subscriptions","organizations_url":"https://api.github.com/users/dwrowley/orgs","repos_url":"https://api.github.com/users/dwrowley/repos","events_url":"https://api.github.com/users/dwrowley/events{/privacy}","received_events_url":"https://api.github.com/users/dwrowley/received_events","type":"User","site_admin":false},"labels":[],"state":"open","locked":false,"assignee":null,"assignees":[],"milestone":null,"comments":8,"created_at":"2017-07-15T16:45:36Z","updated_at":"2017-07-27T02:47:54Z","closed_at":null,"body":"Tier 2 Proposal\r\n\r\n**Name:** Land Use Fees\r\n\r\n**Purpose:** To ensure LAND does not lie fallow but is put to good use\r\n\r\n**Description:** In order to encourage LAND owners to not just let plots lie fallow and held indefinitely, I propose a periodic (annual?) land use fee be levied.  This encourages LAND owners to develop the property in order to generate enough income to at least cover the land use fees.   This also has the advantage that if an owner abandons the plot or loses access to it, that the LAND can be reclaimed and put to better use.\r\n\r\nI propose the land use fee be initially set at 10 MANA per year (1% of the purchase price), with the actual rate to be decided by / updated by the DAO over time.\r\n\r\nIf the fee is not paid (by the anniversary of the purchase date of the parcel), then the LAND would be put up for auction (over a period of say 1 week) where the highest bid would win ownership of that plot.   Multiple adjacent plots available at the same time could be put up for auction as a block in order to facilitate purchases of larger regions.\r\n\r\nAs the value of LAND grows, and a resale market is generated, instead of using the 10 MANA figure, it could move to more of an appraised value model (where the land owner would be charged 1% of the appraised value rather than 1% of the initial purchase price).  Appraised value could be determined by the price of the property when it was last sold, or potentially based on the traffic (# visitors over time) that the LAND generated.  For a traffic-based model, the formula could be to take the overall economic value of Decentraland (GDP) and calculate that LAND's expected pro-rata share of that value based on the percent of traffic that lot had of the overall world.  Alternatively the value of the LAND could be decided by a prediction market.   The floor of course could continue to be set at 10 MANA.\r\n\r\nProceeds from both land use fees and abandoned lots being auctioned could be placed into a separate fund, managed by the DAO, that could be used for community focused projects (setting up park areas, community services, or other community-minded projects).   Proposals could be submitted to the DAO for consideration as to how these funds could best be used for specific projects.\r\n\r\nIn order to ensure land owners are fully aware of the need to pay the land use fee and the consequences of not doing so, there should be some mechanism to inform / alert the land owner of the appropriate deadlines, the mechanism for making the payment, confirmation that payment was received and that the LAND was in good standing, etc.\r\n\r\nWith these principles in place, owners will have a good ongoing incentive to continually ensure the LAND they own is being put to good use and serves the interest of the overall community.\r\n\r\n\r\n"},"comment":{"url":"https://api.github.com/repos/decentraland/proposals/issues/comments/318243042","html_url":"https://github.com/decentraland/proposals/issues/8#issuecomment-318243042","issue_url":"https://api.github.com/repos/decentraland/proposals/issues/8","id":318243042,"user":{"login":"ZCoderGuy","id":17596185,"avatar_url":"https://avatars1.githubusercontent.com/u/17596185?v=4","gravatar_id":"","url":"https://api.github.com/users/ZCoderGuy","html_url":"https://github.com/ZCoderGuy","followers_url":"https://api.github.com/users/ZCoderGuy/followers","following_url":"https://api.github.com/users/ZCoderGuy/following{/other_user}","gists_url":"https://api.github.com/users/ZCoderGuy/gists{/gist_id}","starred_url":"https://api.github.com/users/ZCoderGuy/starred{/owner}{/repo}","subscriptions_url":"https://api.github.com/users/ZCoderGuy/subscriptions","organizations_url":"https://api.github.com/users/ZCoderGuy/orgs","repos_url":"https://api.github.com/users/ZCoderGuy/repos","events_url":"https://api.github.com/users/ZCoderGuy/events{/privacy}","received_events_url":"https://api.github.com/users/ZCoderGuy/received_events","type":"User","site_admin":false},"created_at":"2017-07-27T02:47:54Z","updated_at":"2017-07-27T02:47:54Z","body":"@pookage I like your idea of making the land LOOK unused, but that still doesn't solve the problem of it being unused. The way I understand, and please correct me if I'm wrong, there is a finite amount of land. If all of the land is used up even 1/15 or 1/16 parcels of land isn't being actively developed upon, that could still add up to be a lot of land that is unused. Say there are 500,000 parcels of land and 1/20 parcels of land aren't being used. That means that 25,000 parcels of land aren't being used(I think my math may be off, just napkin math). After writing all of this and thinking about it a little more, I have come up with an addition to my original idea. What if the whole world had a section of land reserved for unused pieces of land. Once your land was unused for a specific length of time the system would move the area of land you owned into the unused section. After you followed the procedure of my above suggestion, or someone else's, the land could be moved back into civilization."}}
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