Google Open Source Blog: Bidding farewell to Google Code
That hosting service has tons of good projects (code and otherwise) that are no longer maintained by their creators. The decision to close it makes sense to me, what I don't understand is why they won't leave it perpetually in readonly mode.
By the end of 2016 when the tarballs themselves cease to be supplied, the whole thing will just be swallowed by the veritable blackhole of a subdomain blackout. Guess they will leave it for someone else to care about it... So nice of Google.