MENLO PARK, CA—Not to be outdone by Google's large donationearlier this year, Facebook is also donating $1 billion during thecoming decade in affordable housing, mostly in the Golden State.The social network platform has partnered with governor GavinNewsom and others on projects intended to result in as many as20,000 new housing units for teachers, nurses, first responders andother essential workers, according to Facebook's chief financialofficer David Wehner. For example, in San Francisco, a family offour with a household income of $100,000 per year is considered lowincome, he says.
"We've learned that the production of affordable housing acrossthe income spectrum is a problem throughout California and must beaddressed through partnerships that bring companies, communities,nonprofit organizations and policy makers statewide together tofind creative solutions," Wehner said.
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