I was thinking of setting up a paypal and having donations come in. It would work as a group effort to pay for it. In return I, or whoever owns the paypal, would distribute remote access tools and permission so you each can access it.
The only problems are that it is a thing that relies on trust with other members. People can easily get your private add-ons if you put them onto the server, and could also infect the server as well. This is why if this were to be done, it should only be done with trustworthy, contributive members like Chrono and Jaydee, who don't stuff around in off topic posting memes all day.
The server, if used for purely blockland, could easily hold up to 100 players. It would also be useful for hosting 24/7 clan dedicateds that can hold many bricks. The problem is that the server can range from $60-$120 depending on how you customize it. If you pick to install windows web edition (+$15 a month) or windows standard (+$25 a month), it would come set up for you. You could also use this rescue system thing which allows you to install your own OS onto the server, but I don't know much about that.
This is the model of the server I was thinking about purchasing
http://www.hetzner.de/en/hosting/produkte_rootserver/eq4/Again, it would be really cool if we got a few people together and all contributed to one so blockland could actually have some good, non laggy, servers that are up 24/7.