Was just thinking out loud on a question that I get often, “how do you make something I like government does like a park and remove it from government control.”
One idea I had on how you could transition government assets into community entities that are self-funded and have better voluntary governance is the following. This example would be for a public park.
Step 1 - Create a corporation which within its charter obligates it to operate a park for let’s say the next 10 years at which time a renewal of that commitment is voted on by shareholders.
Step 2 - Do an IPO of Common shares that have a built in negative dividend. (Fixed rate meaning the holder of the share must pay each year to continue holding the share, not being paid up will result in loss of shareholder voting power) The IPO would be restricted to individual purchasers with a maximum allotment to prevent an initial concentration of ownership.
Step 3 - The proceeds from the offering become the initial capital to operate the park with additional revenue coming from the negative dividend and other revenue the park may generate.
Because of the negative dividend only those vested in the success of the park will want to own the shares and will be able to directly vote on the governance of the park so it’s governance would not be subject to presidential elections that have little to do with parks leading to better less volatile governance and voluntary funding.
This method may be more palatable to voters as it doesn’t run the risk of an auction which likely is going to be won by the largest financial interest which many would feel skeptical of yet still spins the property into voluntary ownership, governance and funding by individuals.