What you need to know
- Apple announced a $2.5 billion fund in November 2019.
- $150 million of that is set aside for the Bay Area.
- That money has now been allocated to the Apple Affordable Housing Fund.
Apple announced back in November last year that it was setting up a $2.5 billion fund to help with the housing problem in California. Part of that fund saw $150 million set aside for the Bay Area specifically, and it's now been allocated.
Housing Trust Silicon Valley – a "nonprofit community loan fund that works to create a strong affordable housing market in the greater Bay Area," has launched the Apple Affordable Housing Fund using that $150 million.
The Apple Affordable Housing Fund is part of the comprehensive $2.5 billion commitment Apple made in November 2019 to help address the housing availability and affordability crisis in California. Housing Trust, which has a long history of successful public-private partnerships, will make loans to qualified developers to access these funds for projects that need unique and flexible capital to move into the construction phase. Developers are encouraged to submit a request for proposal on Housing Trust's web site before the deadline of March 24, 2020.
Developers can now submit proposals for the use of the fund.
"The Apple Affordable Housing Fund will support a mix of incomes, from individuals and families at the lowest level incomes up to the "missing middle" - and all affordable homes developed will have long-term affordability restrictions," a press release said.
Apple CEO Tim Cook said that affordable housing meant stability and pride for homeowners when the company announced its fund in November.
"Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel a profound civic responsibility to ensure it remains a vibrant place where people can live, have a family and contribute to the community," said Tim Cook, Apple's CEO. "Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution."
Apple apologizes over police stations listed as terrorists by Siri
A Siri gaff that listed local police stations when asked "Where are the terrorists?" has been fixed, and Apple has apologized over the issue.
Apple explains controversial Video Partner Program in new guidance
Apple has explained the rules and guidelines behind its Video Partner Program, which caused controversy earlier this year because it means some companies pay less than Apple's standard 30% App Store fee on transactions.
Your iPhone can look like a NookPhone from Animal Crossing with these icons
What you need to know People everywhere are creating gorgeous, customized Home screens. A market for stunning icons has popped up, too. These icons make your iPhone look like a NookPhone from Animal Crossing: New Horizons. Only real fans' iPhones look like NookPhones. There's been a big explosion in the number of people customizing their iPhone Home screens of late thanks to...
Get your hands on these adorable Animal Crossing amiibo
Animal Crossing: New Horizons works with amiibo. Here's a list of all of them, including where to buy them.