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kimmaicutler's profile
Kim-Mai Cutler
Kim-Mai Cutler
Kim-Mai Cutler
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@kimmaicutler

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Kim-Mai CutlerVerified account

@kimmaicutler

Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.

San Francisco
medium.com/initialized-ca…
Joined April 2008

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    Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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    Kim-Mai Cutler Retweeted Working Partnerships

    Interesting that the estimated $235M in increased rents to tenants from bringing in 20K tech workers to San Jose is almost as much as the $339M/yr the city spends on unfunded pension liabilities for former employees who no longer work there. https://sanjosespotlight.com/san-jose-pension-plans-unfunded-liability-expected-to-soar/ …https://twitter.com/wpusanews/status/1138861019307040770 …

    Kim-Mai Cutler added,

    1:24
    Working Partnerships @wpusanews
    New research: the #SJGoogle mega-campus will cost renters $235 million a year – unless @Google creates the 5k affordable homes (and 12k market rate units) needed to prevent rent hikes and displacement. #GoogleRentHike #MadeByGoogle pic.twitter.com/U2EXyteNQl
    Show this thread
    5:39 AM - 14 Jun 2019
    • 9 Retweets
    • 45 Likes
    • kelliot Steve Naventi Ruben Harris - IG: @rubenharris Theo, Yes on Prop 15 this November Mantis Toboggan @athuras Sam Moss 2079 Authority Liliana Aide Monge (She/Her/Ella)
    3 replies 9 retweets 45 likes
      1. New conversation
      2. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        Almost like the Bay Area is structurally incentivized to balance its books (between retirement obligations that were never transparently budgeted for in the 1st place & capped, inheritable property tax assessments) on the backs of tenants & young people🤔 https://www.eastbayexpress.com/oakland/oaklands-budget-battle-heats-up/Content?oid=26586639 …pic.twitter.com/4ux4gEoAXf

        3 replies 11 retweets 40 likes
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      3. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        Why did San Jose sell 10 acres of land to Google for a mega-campus? Because it's a mostly residential city and it loses money on land that contains housing and earns net tax revenue on land that contains office space. https://www.spur.org/sites/default/files/publications_pdfs/SPUR_Back_in_the_Black.pdf …pic.twitter.com/fPxfHBgCYQ

        3 replies 5 retweets 38 likes
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      4. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        And because it is spending a quarter of its general fund every year on retirement obligations for people who no longer work there that weren't adequately covered by pension investment returns. http://www.sanjoseca.gov/DocumentCenter/View/82758 …pic.twitter.com/FwtiRySpw3

        2 replies 1 retweet 20 likes
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      5. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        The city's financial situation is still precarious enough that it still isn't even at staffing levels from almost 20 years ago because they had to lay off so many workers in the last recession. https://www.sanjoseca.gov/DocumentCenter/View/8461 …

        1 reply 1 retweet 14 likes
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      6. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        So invariably, it sells land to Google to stabilize the city’s long-term financial situation even as everyone knows a large downtown Google campus will boost real estate values (and by proxy, damage housing affordability for tenants and future buyers.)

        1 reply 1 retweet 11 likes
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      7. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        Oh and did I mention that San Jose voters themselves dropped the ball on passing a $450M affordable housing bond last year? (Affordable housing is always great, as long as someone else pays for it and it’s not near me, naturally!)https://sanjosespotlight.com/san-jose-mayor-eyes-second-chance-for-affordable-housing-measure/ …

        2 replies 3 retweets 25 likes
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      8. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        To be fair, as @beyondchron points out, this is because the voter threshold is impossibly high at 2/3s rather than simple majority because of Prop. 218/13.

        0 replies 1 retweet 9 likes
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      9. End of conversation
      1. New conversation
      2. 2021 census wanter‏ @SSFyimby 14 Jun 2019
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        Replying to @kimmaicutler

        pensions are good tho

        2 replies 0 retweets 1 like
      3. Kim-Mai Cutler‏Verified account @kimmaicutler 14 Jun 2019
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        Replying to @SSFyimby

        Pensions are good. Pension payments that are based on overly ambitious investor rates of return that cannibalize city budgets and that future generations of taxpayers have to pay for when they should have been covered by previous said returns are bad.

        3 replies 0 retweets 8 likes
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      1. Ruben Harris - IG: @rubenharris‏Verified account @rubenharris 14 Jun 2019
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        Replying to @kimmaicutler

        Very interesting

        0 replies 0 retweets 0 likes
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