California Forever, a Silicon Valley-backed initiative for a green city in the Bay Area, has qualified for the November ballot in Solano County, California.
The plan, proposed by Jan Sramek, the former Goldman Sachs trader and head of California Forever, seeks to build a green city for up to 400,000 people between Travis Air Force Base and Rio Vista.
The big picture: The new city will require the zoning of 27 square miles of agricultural land.
- The initiative includes an initial investment of $400 million to help residents buy homes in the community, an initial guarantee for 15,000 jobs with a minimum salary of $88,000 per year and an expected population of 50,000 within the first decade.
- The proposal has the financial backing of wealthy investors including Laurene Powell Jobs and Marc Andreessen.
- However, there is opposition to the plan from conservation groups and some local and federal officials due to concerns that the plan is a speculative money grab rooted in secrecy and may have a detrimental impact on Solano County’s natural environment.
Driving the news: Sramek’s effort has been controversial as he reportedly purchased $800 million in farmland secretly, and even sued farmers who refused to sell.
- Companies specializing in aerospace and defense manufacturing and indoor vertical farming have expressed interest in developing the area if the plan goes ahead.
