San Jose has received another infusion of cash from Google, adding to the community benefits pot.
The San Jose City Council on Tuesday unanimously approved a $5 million payment from the tech company as part of its community benefits agreement in the Downtown West project. About $4.25 million will be put into the Community Stabilization and Opportunity Pathways Fund and distributed through a grant program.
“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.
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. However, with construction paused, Google has renegotiated with the city to make the $5 million advanced community benefit payment. Google spokesperson Ryan Lamont said the company is committed to honoring its community benefit obligations.