Homesite Lottery

The homesite lottery is intended to provide every shareholder an equal chance for every lot. The proposed procedure is a random drawing of chips containing names of eligible shareholders that are matched to a listing of the lots. It will make no difference to have a name drawn first or last, each person will have an equal chance at every lot. A rotating drum may be used to mix the chips. A neutral party, typically an accountant, performs the drawing.

The random drawing will prevent anyone from selecting a preferred lot before the lottery. After the lottery, trades between individuals may be allowed for a certain time, prior to completion of the land distribution process. Others may choose not to take ownership, especially if development costs are significant. Jointly held shares will result in joint ownership of a lot, since few or no lots are eligible for additional subdivision.