Anti-Google Protesters Disrupt SJ Mayor's State Of The City Address
San Jose City has been in talks with Google to subsidize a mega campus around the Shark Tank. Some of that area was considered for the A's moving to downtown. Much of it is parking for Sharks games, and other usage is low cost service companies for downtown businesses.
These guy are protesting, but for affordable housing. San Jose is the third largest city in the state. Although it will impact affordable housing, it will not be that much at first. Slowly, over time thought, tech worker's will start taking over low-cost housing neighborhoods for the price, and flipping at profit later.
I was wondering what part of the recent talks between the city and the Sharks were about this. I'm sure the city would need to talk to the Sharks about taking up the rest of the potential expansion properties adjacent to the tank. So, one has to believe what does the Sharks get in return?
The lease is ending in a few years. Then it moves into a modified "month-to-month" type lease (using this term because everyone understands it) by year to year. What happens is the Sharks need to renew the lease annually for the next three years. As they renew, this 3-year window slides out one year.
But as a San Jose resident, I believe the mayor and council should let Google buy property at market rates, and not get involved with subsidizing through their re-incarnated redevelopment agency. As an example, Google purchased one property for $55m in a private sale. The city is taking about acquiring more parcels (eminent domain) and selling to Google for well under $20m with most under $10m.
In my view, Google doesn't need this subsidy, and I fell that it would hasten the Sharks leaving at some point down the road.
San Jose City has been in talks with Google to subsidize a mega campus around the Shark Tank. Some of that area was considered for the A's moving to downtown. Much of it is parking for Sharks games, and other usage is low cost service companies for downtown businesses.
These guy are protesting, but for affordable housing. San Jose is the third largest city in the state. Although it will impact affordable housing, it will not be that much at first. Slowly, over time thought, tech worker's will start taking over low-cost housing neighborhoods for the price, and flipping at profit later.
I was wondering what part of the recent talks between the city and the Sharks were about this. I'm sure the city would need to talk to the Sharks about taking up the rest of the potential expansion properties adjacent to the tank. So, one has to believe what does the Sharks get in return?
The lease is ending in a few years. Then it moves into a modified "month-to-month" type lease (using this term because everyone understands it) by year to year. What happens is the Sharks need to renew the lease annually for the next three years. As they renew, this 3-year window slides out one year.
But as a San Jose resident, I believe the mayor and council should let Google buy property at market rates, and not get involved with subsidizing through their re-incarnated redevelopment agency. As an example, Google purchased one property for $55m in a private sale. The city is taking about acquiring more parcels (eminent domain) and selling to Google for well under $20m with most under $10m.
In my view, Google doesn't need this subsidy, and I fell that it would hasten the Sharks leaving at some point down the road.
