Facebook has decided that being a good neighbor means donating funding toward affordable housing.
Laura Kusisto reports: "The tech giant announced Friday it will spend about $20 million in Menlo Park and East Palo Alto, Calif., two cities that surround its campus, to create a fund to build new housing, support job-training programs and provide legal assistance to tenants in danger of eviction."
According to Kusisto, the fund serves as an "olive branch" as the company plans to expand its campus and bring 6,5000 new employees to the area. "Some $18.5 million will go to a fund to build new housing, primarily targeted at low- and moderate-income families, with consultation from community groups," adds Kusisto. Kusisto's report on the fund might be behind The Wall Street Journal paywall for some readers.
Sue Dremann reports on the story for Palo Alto Online, and John Mannes does the same for TechCrunch. Mark Zuckerberg also wrote a post explaining the company's interest in affordable housing.
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