Permission Assets

In keeping with the Rules-Based model of Urban Planning, a default set of building and usage permissions are awarded to real estate assets, as established by zoning regulations within the Master Plan.

Incentivized Zoning

Permissions are by default tradable so that asset owners may extend their rights for a price, in accordance with the following principles:

• Zoning should incentivize contribution to the community in exchange for permission.

• Incentive zoning states that you can bend those rules if you elect to do something else to the community’s benefit.

• Incentive zoning attracts capital via pass-through tax benefits

Rights

Rights are the permission to perform an action or engage in a specific activity. Examples of rights include:

• Right to construct a specific number of buildings of each type of Blueprint according to a set of Blueprints

• An ‘Air Right’ to extend the building to a max height.

• A ‘Unencumbered View’ right to a certain angle of unobstructed view.

• Permission to remove a specific percentage of trees on a Build Site or Land Parcel.

Each right is a fungible token, of which Build Sites are allocated a certain number as they are minted (as determined by the Master Plan). If the Master Plan is updated to award new Rights, these can be airdropped to existing Build Sites.

Rights are tradable between owners of Build Sites. In this way, Build Sites can purchase additional permissions.

Building Permit

The council will issue a building permit ERC-721 NFT to each entity who requests to erect a building. Permits shall be automatically granted provided all the necessary rights have been obtained. Ownership of a Building Permit will detail the permitted activities during construction e.g. no construction at night etc.

If additional permits are requested or required, the council will consider them and issue them on a case-by-case basis.