"The Community Stabilization and Opportunity Pathways Funds aim to support under-resourced communities in San Jose due to rising costs and increase job opportunities for youth and adults," Nanci Klein, director of San Jose's economic development department, told San José Spotlight.
While further details have to be worked out, Klein said there will likely be an application process for the grants. City employees suggested $4.25 million will be disbursed through three grant cycles over the next five years.
Google spokesperson Ryan Lamont said the company is committed to honoring its community benefit obligations. Based on the city's agreements with Google, community benefit funding could receive $155 million in the future if the development proceeds as initially planned.
The fund is overseen by a 13-member commission of residents who have either experienced homelessness or have a background in community advocacy, education or workforce development, and it is the only governing body deciding grant awardees.
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