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 …
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if they sold to a less well-pocketed, established or known buyer, you definitely wouldn't be in the position you are now to publicly pressure for additional concessions.
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Roughly half was successor agency land which had to sell but City could have auctioned, but chose to give Google exclusive negotiation on land closest to our forthcoming $10B transit projects to avoid a bidding war. Other half is City owned and City could do what it wants.
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The NDAs Google made the City sign were also of value, Google wanted to keep their plans to acquire land out of the public eyes so prices wouldn’t rise. So that was another valuable (though we believe illegal) benefit San Jose granted Google.
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