You know, $500,000 is less than it costs a developer to buy a decent medium sized duplex house within reasonable commuting distance to a tech job in San Jose.

You know, $500,000 is less than it costs a developer to buy a decent medium sized duplex house within reasonable commuting distance to a tech job in San Jose. I don't really see $500k as an indication of any serious interest at all. It might as well be a grant for $37 plus whatever change, lint and gumdrops the proposal author happened to have in his pocket that day.