Apple to spend over $400 million in 2020 to stem California’ housing crisis | ET Realty
The iPhone maker in November committed the funding to address what Chief Executive Tim Cook called a housing “affordability crisis that is existential” for many residents of the company’s home state.
SAN FRANCISCO: Apple Inc on Monday said it has allocated more than $400 million of $2.5 billion it pledged last year to stem California’s housing crisis.
The iPhone maker in November committed the funding to address what Chief Executive Tim Cook called a housing “affordability crisis that is existential” for many residents of the company’s home state.
The majority of the first $400 million to be spent this year is going toward two programs Apple is working on with the California Housing Finance Agency. Under the first, Apple has provided funding to help state officials extend their ability to finance affordable housing projects with tax-exempt bonds.
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