upon further review I see you’ve heard several hundred versions of this point today so nm
it altered municipal finance too. So cities make more net tax revenue by approving office space, rather than housing.http://www.latimes.com/politics/la-pol-ca-small-city-controls-big-housing-project-20170728-story.html …
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Cities love office space, bc you get tax revenue but don't have to pay for services like schools/fire/police for residents. This is why San Jose is working with Google to bring 20,000 jobs downtown, why the Central SOMA plan might have 40K jobs but only 7K housing units.
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California cities also have many financial structural liabilities they need to cover. SF has $5.7B in unfunded pension liabilities. Berkeley has $650M, Palo Alto has a billion. So they need to attract things that produce tax $ to pay these off.https://calmatters.org/articles/california-retirement-pension-debt-explainer/ …
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