Tech billionaires scrap utopian city initiative after damning report
The company behind the “California Forever” project has scrapped the ballot initiative it was to put to Solano County voters in November.
Tech billionaires have abandoned their plans to build a utopian city in Solano County, California, following a scathing report released by the county. The report raised concerns about the financial feasibility of the project, predicting that it would cost the county billions of dollars and create substantial financial deficits. It also highlighted potential negative impacts on agricultural production and local water supplies. In response, the company behind the "California Forever" project, led by CEO Jan Sramek, has withdrawn its ballot initiative and will instead seek approval through the county's general plan and zoning processes.
The proposal, funded by prominent figures in the tech industry, had been mired in controversy due to its potential impact on agricultural land and nature areas, as well as a lawsuit filed by the company's real estate arm against holdout landowners. The decision to abandon the ballot initiative was influenced by the recognition that a more collaborative approach with the county was needed to address concerns about affordability, housing, and job creation.
According to the county's report, the project's infrastructure and public facilities were estimated to cost taxpayers billions of dollars, with ongoing costs outstripping revenues and creating annual deficits. The report also raised concerns about the impact on transportation, safety, and the environment, including decreased roadway safety and increased wear and tear on roads during construction.
While the company behind "California Forever" maintained that the project would create jobs and economic activity, the county's report questioned the financial viability and potential negative consequences for the region. The withdrawal of the ballot initiative marks a shift towards a more measured approach to development, with the company now aiming to work with the county to address these concerns and find a path forward that aligns with the community's needs and priorities.
The proposal, funded by prominent figures in the tech industry, had been mired in controversy due to its potential impact on agricultural land and nature areas, as well as a lawsuit filed by the company's real estate arm against holdout landowners. The decision to abandon the ballot initiative was influenced by the recognition that a more collaborative approach with the county was needed to address concerns about affordability, housing, and job creation.
According to the county's report, the project's infrastructure and public facilities were estimated to cost taxpayers billions of dollars, with ongoing costs outstripping revenues and creating annual deficits. The report also raised concerns about the impact on transportation, safety, and the environment, including decreased roadway safety and increased wear and tear on roads during construction.
While the company behind "California Forever" maintained that the project would create jobs and economic activity, the county's report questioned the financial viability and potential negative consequences for the region. The withdrawal of the ballot initiative marks a shift towards a more measured approach to development, with the company now aiming to work with the county to address these concerns and find a path forward that aligns with the community's needs and priorities.