• On Friday, Mayor London Breed announced a proposal for budget cuts and dipping into city reserves to close the current $790 million budget deficit. On the chopping block are some nonprofit contracts dealing with things like community outreach, workforce development, and events, and there will be a City Hall hiring freeze, with hiring only permitted at the SFPD, sheriff's department, and SF General; the Board of Supervisors will still need to vote on the latest budget. [SF Business Times / Chronicle]
  • The low-slung, one-story former Sunset Magazine complex in Menlo Park is set to potentially be replaced by a massive development that includes a 431-foot tower, which would be the tallest building in Silicon Valley. [Chronicle]
  • Average asking rents in San Francisco ticked up 4% in May, to $3,460/mo, and inventory is shrinking, but rents are still 20% below their 2015 peak. [Socketsite]
  • SF fintech company Intuit has plans to downsize its offices, relocating from 4th Street to a smaller space at 505 Howard Street next spring. [SF Business Times]
  • The first ever Festival La Onda, focused only on Latin music, kicks off Saturday in Napa — on the same fairgrounds where BottleRock took place last weekend. [KPIX]
  • Standard Deviant Brewing in the Mission District is offering a special 34-ounce pour of beer (just over a liter) in honor of Donald Trump's 34 felony counts. [KRON4]
  • Ahead of an August concert at Shoreline, Alanis Morissette spoke to ABC 7 this morning and talked about how she's been "in love" with the Bay Area ever since she was 21, and spent some time living here five years ago (she now lives in Olympic Valley, near Palisades Tahoe). [ABC 7]

Top image: Rendering of the proposed Menlo Park development by SCB Architects