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This happens all the time. Many golf courses are done this way, and I'm sure another type of project would work. A typical example is a 99 year lease. Coucils and Gubbmints have been doing it for a long time.

Build a golf course and make it a fully-public venue with carts, a modest but nice clubhouse with well-priced snacks and drinks. A liquor license would be an advantage down the track. Make sure the drink cart goes around all day, have lots of good hire equipment and good stocks of cheap...