In November 2016, voters rejected two ballot initiatives related to Vallco: Measure C, which would have attempted to freeze Vallco as a retail center without offices or housing, in addition to imposing additional restrictions on development options throughout the city, and Measure D, which would have approved the proposed Hills at Vallco project, bypassing standard city approval processes. In the wake of the votes, Sand Hill announced it would stop investing in the mall. Managing Director Reed Moulds said the company "will not sell the land nor make investments into the current failed asset. In order for us to invest in Vallco we have to be certain it will be a worthwhile investment and not just the Band-Aid approaches that have failed Vallco for decades. Until Cupertino is ready for that approach, we have no choice but to stop". In a follow-up statement, he said current tenants' leases would be honored so long as they remained at the mall; AMC Theatres, Bowlmor Lanes, Ice Center Cupertino, and Benihana all indicated their intention to stay. However, all vacant areas of the mall would be closed for security reasons, and remaining tenants without lease terms are to be evicted.