Stephen Webb,the one who started showing up at domain conferences a while ago,promoting "IAmcityname.com" domain names had a bit of succes.He sold IAmSeattle.com to the Space Needle in Seatle.
The problem with IAmSantaMonica.com occured when the meaning of "lease" was missunderstood.Therefore,Santa Monica Convention & Visitors Bureau entered int o a lease with Webb's company for the domain name IAmSantaMonica.com.Of course,the lease ran out and Santa Monica didn't renew it,giving Webb the right to sell the domain name.
There is more to this.Santa Monica ,claiming trademark rights to the domain,filed a UDRP with National Arbitration forum.Amazingly,the panel decided in Webb's favor.Although the panel decided that Santa Monica had trademark rights to "I Am Santa Monica" based on its trademark of the city name Santa Monica,the domain name will remain at Webb.
A little confusing I might say!