A controversial proposal to build a billionaire-backed city in California would include lavish perks, including $400 million in “down payment assistance” for homebuyers and guaranteed 15,000 new jobs. They are trying to gain the support of local residents by incorporating such measures.
As reported by the Post, California Forever, the company behind a nearly $1 billion secret land purchase in San Francisco's northeast Solano County, has announced that residents will It has faced significant opposition from the U.S. and federal lawmakers as well. forward.
California Forever said the $400 million in funding will provide a path for local Solano County residents, including “working families, teachers, nurses, police, firefighters, and construction workers,” to own real estate in new developments. Ta. According to the website.
Officials also claimed the city would support at least 15,000 jobs “paying at least 125% of the county's average weekly wage by the time the city reaches 50,000 residents.” As of 2022, the median household income in Solano County was $97,037. According to US Census data.
“This has the potential to be a new economic engine for Solano County,” California Forever CEO Jan Slamek said in response to questions about the ballot proposal from local residents during a Wednesday afternoon press conference. I plan to comply.
The bold promise is part of a list of so-called “10 guarantees” that project executives say they will provide if the vote passes. California Forever said the pledge is “legally binding and enforceable by counties,” but it was not immediately clear how that would work.
Other pledges include $200 million to revitalize nearby cities like Fairfield and Rio Vista. $70 million will go toward scholarships, job training, and small business support, and $30 million will go toward protecting the local environment.
The company said the development will consist primarily of rowhouses and apartment buildings and will be built on approximately 18,600 acres of land. This is part of the approximately 62,000 acres acquired since 2017 while becoming Solano County's largest landowner.
The city plan also requires that at least 4,000 acres be used for environmentally friendly uses such as parks, trails and community gardens.
California Forever has not yet disclosed what the city will be called if construction moves forward.
Silicon Valley giants including Marc Andreessen, Reid Hoffman and Laurene Powell Jobs are funding the project, but critics say it will displace local residents and leave a fragile ecosystem. They denounce it as a ruthless land grab that causes damage.
Mr. Sramek, a Czech-born Goldman Sachs trader who has recently been likened to a “snake oil salesman” by wary residents, said the move is an answer to the state's soaring housing costs and grueling commutes. advocated urban planning.
He dismissed widespread speculation that his deep-pocketed supporters want the city to conform to their ideals of a “utopian” community.
California Forever would need residents to agree to circumvent Solano County rules that prohibit rezoning without voter approval.
U.S. Rep. John Garamendi (D-Calif.), who previously accused project officials of using “strong-arm tactics” against local landowners who opposed the project, remains unconvinced by the proposal. do not have.
At a meeting in Parliament House last week, an irate Mr. Garamendi accused Mr. Sramek of engaging in a price fix in which local landowners conspired to extract more money for their land. He said the refusal to drop the case was “despicable.” reported by bloomberg.
Garamendi's office did not respond to requests for comment.
Despite the backlash, Mr. Sramek recently told the Post that his billionaire backers are “not at all perturbed” by the negative coverage.
The ballot proposal is one remaining hurdle for California Forever.
The project also faces a protracted national security investigation by the U.S. Treasury Department's Committee on Foreign Investment in the United States over possible foreign ties to the land purchase agreement.
Much of the land acquired by California Forever through its Flannery Associates subsidiary is located near Travis Air Force Base, an important military base, which Garamendi and other lawmakers have called for closer scrutiny. .
California Forever said its development plan would nearly double the land barrier outside Travis from about 8,000 acres to nearly 15,000 acres. The group also pledged to work with base leaders on “major infrastructure projects” including solar power facilities planned for the region.
