A new 10,000 person town in the North Bay? Great. Except for the county plans for real estate in the counties (20 years each), the zoning laws, the inconvenient lack of open subdivided land, the $120,000 per structure planning/permitting/inspection overhead for new construction, etc, etc.
You may have noticed that they're going to apply the power of the internet and social networking. As you may know, the internet and social networking are perfect tools for drawing the attention of many people to tedious legalities for long spans of time.
10,000 home town. Assume each home houses more than one person and you're looking at 10,000-40,000 or so people. Irrelevant to how terrible (well, unrealistic) of an idea it is, but worth noting.
This isn't even close to realistic.