Esmeralda Courts Locals as It Tries to Learn From California Forever's Mistakes | KQED

"While the company has been working hard to garner trust in the community and distance itself from California Forever, Esmeralda shares similarities with the Solano-based company. Like California Forever CEO Jan Sramek, Zuegel worked in Silicon Valley, including at the software developer platform Github and blockchain company Bloom Protocol. And similar to California Forever's experience in Solano County, residents in Cloverdale raised questions about Esmeralda's investors. Rumors circulated early on, claiming Esmeralda is backed by venture capitalist Peter Thiel. While Zuegel has refuted that rumor and denied any relations to the conservative libertarian, she has declined to reveal the identities of the project's 19 backers. When the question came up during a project open house in October, Zuegel was nonspecific, saying they "tend to actually be private individuals who live in the Bay Area.""

"Like California Forever, Esmeralda has its detractors. Skeptical residents pointed to similar proposals for Cloverdale that have failed to materialize and concerns that the new development will be populated by rich Silicon Valley tech-types. Nilda Andrews, who attended the company's first project open house in July, came away with mixed feelings. She recently moved to the small city from San Francisco and said the whole project sounded "very elitist." "How are they going to bring in the rest of Cloverdale?" she asked. "I'm good for change. But I'm for change for everybody. Not just for the few, the elite." Mary Ann Brigham, a Cloverdale resident and former mayor of the city, attended Esmeralda's second open house in October. She has seen multiple projects proposed - and dropped - on the vacant site where Esmeralda would be located and doubts this project will be an exception."

Esmeralda has drawn scrutiny for similarities to California Forever, including leadership ties to Silicon Valley and investor secrecy. Zuegel previously worked at Github and Bloom Protocol. Rumors that venture capitalist Peter Thiel backs the project circulated, which Zuegel refuted while declining to disclose the identities of 19 backers. Zuegel described investors as private Bay Area individuals at a public open house. Local residents expressed skepticism, citing prior failed development proposals and worries that the project will cater to wealthy Silicon Valley newcomers. A former mayor and attendees questioned whether the project will be realized or serve the broader Cloverdale community.

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