Wednesday, March 19, 2014

San Jose City Council offers incentives to lure Mercury News to downtown

The Mercury News, which has sold its building at Brokaw Road and I-880, is looking for a new home for its newsroom and business departments, and San Jose officials are trying to lure the paper to move downtown.

They're hoping a parking incentive program that would save the paper $864,000 over five years will do the trick.

Mayor Chuck Reed said the Merc would be a "marquee tenant" downtown.

"They do buy ink by the barrel, still," Reed said.

The Merc said in today's edition that it is still exploring other office space around Silicon Valley and hasn't yet committed to a downtown move.

Under the offer approved by council Tuesday, the Merc would get 160 of its 200 spaces for free for four years and at half-price in the fifth year, while all the spots would be the full $100 monthly price in the following 2½ years.

No comments: