Days after a Solano County report criticized the California Forever project's plan for a new city, stating it could cost billions in county funds and may not be financially feasible, the company has withdrawn its ballot initiative for November.
California Forever, led by CEO Jan Sramek, will now seek approval to rezone farmland for the city through typical county processes, after spending years buying land for the project and claiming economic benefits such as job creation and economic activity.
The contentious project, financially backed by Silicon Valley billionaires, was involved in controversy due to a lawsuit against holdout landowners and reported combative behavior of the CEO, adding to public dissent over the endeavor.
#california-forever-project #silicon-valley-billionaires #financial-feasibility #controversy #land-development
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