A Group Of Investors Want To Buy The 982-acre Belle Isle From The City of Detroit For $1 Billion In Order To Establish A New U.S. Commonwealth Nation

http://www.dailymail.co.uk/news/article-2268696/Belle-Isle-Developer-wants-buy-island-Detroit-start-remarkable-new-nation.html

Investors seek to buy island from Detroit and start a ‘new nation’ free of personal and corporate income taxes, where everyone has good credit and citizenship costs $300G

By Dan Prochilo

PUBLISHED: 10:38 EST, 26 January 2013 | UPDATED: 12:46 EST, 26 January 2013

A developer wants the city of Detroit to sell an island that is now a city park to a group of buyers looking to transform it into the newest U.S. commonwealth.

Rodney Lockwood, a developer from Bingham Farms, a village of 1,100 people about a half-hour from Detroit, is pushing for the city to sell the 982-acre Belle Isle for $1 billion to a group of investors who ‘believe in individual freedom, liberty and free markets,’ according to a website set up by proponents of the concept, commonwealthofbelleisle.com.

During the next three decades, the buyers would establish a ‘remarkable new nation’ of 35,000 people using private money, transforming the island into a quasi-autonomous state with its own government, currency and system of taxation.

There would be no personal or corporate income tax in this business-friendly utopia.

A group of investors wants to buy Detroit's Belle Isle and turn it into a quasi-autonomous commonwealthThis is what Belle Isle could look like in 30 years, if a group of investors purchases it for $1 billion and realizes their vision of turning the island in the Detroit River into a new U.S. commonwealth
Detroit's Belle Isle Park is the largest island city park in the United StatesDeveloper Rodney Lockwood says the economic effects of his plans for Belle Isle, the largest island city park in the United States, could restore Detroit to its glory days

Most people would buy citizenship to Belle Isle at a cost of $300,000. Twenty percent of the population would be exempt from paying the fee, allowing for some socioeconomic diversity.

All citizens would be mandated to have good credit, no criminal background and command of the English language, according to The Detroit News.

Supporters forecast that a privately owned Belle Isle would rival Singapore ‘as an economic miracle,’ generating ‘billions of dollars in desperately needed economic growth’ and becoming ‘a social laboratory for the western world’ — an experiment in small government.

The Douglas MacArthur Bridge connects the city of Detroit to Belle IsleThe Douglas MacArthur Bridge connects Detroit to Belle Isle, which developers want to buy and turn into a new city-state.
Rodney Lockwood, the developer urging the municipal leaders of Detroit to sell off Belle IsleDeveloper Rodney Lockwood authored a book about his plans for the island titled ‘Belle Isle: Detroit’s Game Changer’

The construction jobs produced by the massive undertaking and its other economic benefits would restore Detroit ‘to its former glory,’ backers claim.

While the Commonwealth of Belle Isle has prominent supporters, including the retired president of Chrysler, Hal Sperlich, it will probably be struck down by Detroit municipal officials, according to news reports.

Lockwood even acknowledges that the concept is unlikely to be approved, while George Jackson, president and CEO of the Detroit Economic Growth Corp., was quoted as saying the idea won’t advance.

Investors want to buy Belle Isle in the Detroit River for $1BBelle Isle, a Detroit park, could become a U.S. commonwealth where the citizens all have good credit and no criminal history, if a group of investors is allowed to buy it

Last fall, Detroit Mayor David Bing and Michigan Gov. Rick Snyder reportedly struck a deal handing over the operation and management of Belle Isle to the state.

City Council members were unhappy with the deal, which would have granted a 30-year lease of the island to the Department of Natural Resources, saying it lacked specifics and wouldn’t provide jobs and contracts to the people of Detroit.

The agreement called for the state to fund renovations and operations of Belle Isle instead of paying rent which the brokers of the deal said would save the city $6 million a year. The state wants the City Council to revisit the issue in 2013.
Read more: http://www.dailymail.co.uk/news/article-2268696/Belle-Isle-Developer-wants-buy-island-Detroit-start-remarkable-new-nation.html#ixzz2J78PUFgA

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Posted on January 26, 2013, in Economy / Finance, Politics, US Politics and tagged , , , , , . Bookmark the permalink. 1 Comment.

  1. I love the idea, simply because it’s different the obviously dysfunctional system we currently have. I would love to visit this place at some point, if they were to allow visitors?

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