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Menlo Park Green Lights Facebook Expansion

Deal means millions of dollars for the city.

Menlo Park City Council approved a with Facebook Tuesday that will allow the social media company to pack thousands of employees onto the campus for a few million dollars.

The zoning laws for the property on which the campus stands only allows 3,600 employees to work there. Facebook wants many more people than that and offered the city $12,500,000 over the next 16 years. It also offered an investment of $500,000 into a .

Council unanimously accepted these terms, along with a few more . Internship and job creation programs will also be cultivated. 

To read more about the council's decision last night, click here.

You can also read the staff report for the meeting here. 

Andrew Boone April 20, 2012 at 12:01 AM
Actually, the City Council did not approve the Development Agreement on April 17, but a Term Sheet which summarizes items that will be included in the Development Agreement (yet to be written). Here's the Term Sheet that was approved: http://service.govdelivery.com/docs/CAMENLO/CAMENLO_97/CAMENLO_97_20120417_010000_en.pdf City Council is currently scheduled to review the actual Development Agreement on May 29 and on June 5.

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