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<p><font size="-1" face="Courier New">I would like to pick up on
what Anne E. Aikman-Scalese wrote: To wit: </font></p>
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style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">“<i>If
the CCWG has already examined the Trust mechanism in the
context of Option A, I
apologize for bring this up.<span style="mso-spacerun:yes"> </span>It’s
just
completely unrealistic to think that you can establish the
required
independence by setting up a department within ICANN where
employees
responsible for grant-making are hired and fired by ICANN
staff and/or Board</i>.”</span></p>
<p class="MsoNormal"
style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">The
future for new auction revenues is highly uncertain. From an
economist’s
perspective, I would not be surprised to find that ICANN has
reached seriously
diminishing marginal returns from additional auctions, whenever
the applicants
elect not to hold private auctions. In addition to the auctions
balance being
unlikely to grow, ICANN’s own evolving financial situation means
that the
existing balance is not immune to appropriation for other ICANN
needs, no
matter what the intentions are today.</span></p>
<p class="MsoNormal"
style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">From
the beginning of this discussion the implicit understanding was
that the funds
would be released in tranches (slices). Various “tranche models”
were bandied
about. For the moment the endowment preserving strategy of only
allocating
interest earned is essentially a dead option, given near zero
and negative
interest rates, the funding flow would be minimal. Other
portfolio approaches
may combine potentially higher yields, but also quite likely
with higher risks. </span></p>
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style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">These
considerations lead me to believe that the auction revenues are
essentially a one-time
windfall, to be husbanded wisely by ICANN, with direction from
the ICANN
stakeholder community, and possibly used to exhaustion over some
agreed upon
finite time horizon. Should I be wrong, and we find that there
are significant
additional auction proceeds, we should consider placing them in
reserve, with
our decisions here to be revisited in terms of lesson learned
from the handling
of the first auctions balance. These are issues to be discussed
among the
stakeholder community. </span></p>
<p class="MsoNormal"
style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">Lastly,
in addition to the issue of required independence and Option A,
there is the
challenge of amassing the appropriate expertise to properly and
efficiently
administer the granting process within a unit of ICANN itself.
One has to weigh
those costs against Option C, where for a management fee the
administrative process
is transferred to a competent entity. </span></p>
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style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">The
terms of reference for grant eligibility would be set through an
ICANN policy
development process. That would hold for both Option A and
Option B. Assuming
that it is the same for Options A and B, the core questions here
are (a) the relevant
costs of the administrative process as between A and B, and (b)
the reality
(and optics)of process independence with in-house ICANN
management versus
contracted outside process management. </span></p>
<span style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman""> </span>
<p class="MsoNormal"
style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">My
personal views are that an in-house process will be more
expensive, and more
fraught with problems, than a process being run by a outside
foundation or
similar group. ICANN has no expertise in these areas and this is
not an area
where ICANN should learn while doing. </span></p>
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style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
normal;tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt
320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt
687.0pt 732.8pt"><span
style="font-size:10.0pt;font-family:"Courier
New";mso-fareast-font-family:"Times New Roman"">Sam
Lanfranco, NPOC</span></p>
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