The $50 million Cisco donated to tackle homelessness in Silicon Valley helped fund 30 housing projects. But experts say much more is needed.
the donation on stage at San Jose’s Tech Museum of Innovation in 2018, and for every two people Santa Clara County gets into housing, another three become homeless. Just five of the buildings Cisco helped fund have been completed so far, and experts say more money is needed.
Resident Celeste Romkee, center, talks with Jennifer Loving, left, Chief Executive Officer of Destination: Home, and Cisco CEO Chuck Robbins in her apartment as they tour the Calabazas Community Apartments in Santa Clara, Calif., on Thursday, June 23, 2022. Roadblocks may lie ahead. Money from Measure A – the $950 million affordable housing bond Santa Clara County voters approved in 2016 – has been a boon for affordable housing development, but it likely will run out next year.
But neither tech companies nor homeless services nonprofits can control low wages, systemic racism, the federal government’s failure to significantly increase funding for housing, or a number of other factors that contribute to the housing crisis, Loving said. Robbins wouldn’t commit when asked if Cisco would put up more money, but said he’s in talks with Destination: Home about what that might look like. He’s considering putting together a coalition of other tech companies in order to make a bigger splash.
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