Google and the City of San Jose on Tuesday announced the internet giant’s new $ 200 million investment in the downtown San Jose community as part of its Downtown West commercial and residential project in the Diridon station.
The fund, dubbed the ‘Community Benefit Package’, is described in the recently released development agreement for the project and focuses on strengthening the local economy by providing training, education and training programs. employment as well as minimize travel as new offices fill up, according to Into the City.
The investment is also committing to additional housing, open space and recreation with the Downtown West project, which, as proposed, would bring 4,000 new homes, 15 acres of open space and more small business opportunities to the area, the city said.
The fund also establishes a community decision-making process to address specific needs, with an emphasis on fairness, as the city recovers from the coronavirus pandemic, the city said.
“Unlike attempts by some large employers to extract all forms of public subsidies and tax breaks from local communities, Google has chosen the most enlightened path, making bold commitments to build affordable housing, invest in educational opportunities and creating pathways to better jobs for local residents, ”Mayor Sam Liccardo said in a statement.
The mayor added that the agreement would set a national standard for a fair post-pandemic recovery and future public-private partnerships.
The Downtown West project has been revised from its original plan to include more housing and less office space, as many workers will remain on distant schedules even after all restrictions are lifted in the event of a pandemic.
The project has also drawn a lot of opposition from some housing advocates who say it will contribute to the housing crisis.
The development agreement will be presented at the resort sector advisory group meeting on April 14 and the community meeting on April 17. The agreement and the full project are expected to be submitted to the San Jose Planning Commission on April 28 and are expected to be presented to city council on May 25.
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