California Forever tech billionaire-backed plan to build a new city 60 miles away from San Francisco is on hold for at least two years, pending an environmental impact study, reports The New York Times.

Last year, the Times reported that a group of Silicon Valley investors (including LinkedIn co-founder Reid Hoffman, Andreessen Horowitz investors Marc Andreessen and Chris Dixon, former GitHub CEO Nat Friedman, and Emerson Collective founder Laurene Powell Jobs) had secretly bought up hundreds of millions of dollars worth of farmland in Solano County to build their own city.

With former Goldman Sachs trader named Jan Sramek spearheading the project, it filed for permission to develop the land only months after its plans became known. A…

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