California’s billionaire-backed new city plans suffer major setback


Jan Sramek, founder and chief executive officer of California Forever. — Bloomberg

LOS ANGELES: A group of Silicon Valley billionaires is pushing the pause button on their ambitious and controversial plans to build a new city northeast of San Francisco.

The company behind the effort, California Forever, will withdraw a measure on the November ballot that would have asked voters to approve major zoning changes in Solano County.

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