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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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but of course, building lots of office and no housing is terrible for affordability.pic.twitter.com/uttlzG7qKd
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