big nit: facism is an absurdly fuzzy concept; the popular definition winds up being "people more authoritarian than I like". If you dig up Mussolini's comments, it's something more akin to making the civil religion the major ideology of the people.

Anyway. I don't know what would happen, but a corp-owned city is a classic dystopia scenario. I've lived enough of my life working for corporations; I don't really want their tentacles creeping into my entire life and making my body's entire existence about maximizing their profit, or being research subjects, etc.