2 ms·
To say "without subsidies" is seriously misleading. Google is being offered these lots at well below market price. Many of the same lots were previously offere
by masonic 8y ago
To say "without subsidies" is seriously misleading.
Google is being offered these lots at well below market price. Many of the same lots were previously offered to the Oakland A's for a new ballpark, also well below market price at that time.
San Jose land policy is run by corrupt idiots, as evidenced by them paying $41 million(0) in a sealed bid auction for the Convention center South Hall property at about twice the price they are getting from Google ($10M/acre for that mostly landlocked parcel vs. $5M/acre they are charging Google for prime parcels with good freeway access at Bird Ave.).
But, hey, I'm sure they'll all get cushy Google executive positions when they leave "public service"... like Mineta did from Lockheed Martin after redirecting light rail their way.
Also, regarding "no subsidies": watch them offer Google below-srandard development impact fees.
(0) the highest private sector bid? Just $11 million!