Finance

Silicon Valley Investors’ Plans for a New City Put on Hold

Silicon Valley’s plans for a start-up city are on hold.

The East Solano Plan — a proposal backed by a roster of technology billionaires to build a city of up to 400,000 people on farmland about 60 miles from San Francisco — is being delayed at least two years to study the project’s impact on the environment, the company said in a statement. The delay was announced as part of a joint agreement between California Forever, the company behind the development, and a member of the Solano County’s Board of Supervisors.

The agreement means that a ballot initiative, which the company had hoped to put before Solano County’s voters this year, will not appear on the November ballot as planned. California Forever said it would instead spend the rest of this year and next preparing an environmental impact report and trying to craft a development agreement with the county.

The project would still have to go before voters to win final approval.

This is a developing story. Please check back for updates.

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