  The general governance structure of Maryland municipalities has always confused me, I will admit. Why bother having local communities if all the normal functions of government--schools, police and fire services, snow removal, planning and zoning, trash collection, street tree maintenance, public libraries, etc.--are performed by the county? (Except, of course, in the three incorporated municipalities. ) I see few options. (1) Nothing will change. The Columbia Association website seems to indicate that the Columbia Council (aka the association's board of directors) has final authority over the day-to-day operations (read: minutiae) of Columbia. I find no mention, in my quick read, of decisions being subject to veto by executives of RSE. The association appears to be a legally separate entity with only an historical tie to the company. (2) The decisions formerly made by RSE executives will now be made by middle managers employed by GGP.
These may indeed be the same individuals currently resolving critical issues, like authorized colors for house doors. (3) Columbia will dissolve into the ether. The amenities maintained by the association will be sold off to for-profit entities and other private organizations. Some of the land may be converted from its current entertainment purposes to residential and commercial development. (4) Columbia will become the state's fourth incorporated municipality and attempt an experiment with democracy.
After Iraq has conducted its first peaceful transfer of power from one elected government to another, Columbia will move toward free, open elections (supervised, of course, by POTUS-39). Yes, yes, the final two options are just wishful thinking. At least option four gives the peanut-farmer-cum-Nobel-laureate something to do, other than planting "peace sticks" in every weed patch in America. 
