Facebook announced that it would allocate $150 million from its $1 billion affordable housing pledge to build homes for low-income residents around Silicon Valley. < / P > < p > according to the social media giant, the work of helping low-income residents in the region has become more important in the past 10 months as the economic difficulties caused by the covid-19 pandemic. Those who had been struggling economically before the outbreak are expected to be the main victims of the recession. < / P > < p > Facebook said the money would be handled by an advisory committee of core partners, including support Corporation, destination: home and community members who have firsthand experience with homelessness. The company said it plans to allocate $150 million in full by 2026 and hopes to fund at least five projects in Santa Clara, San Francisco, San Mateo, Alameda and contacosta over the next 12 months. < / P > < p > the company said the application process for funding could begin on Wednesday. In the coming months, the company plans to fund the first community housing project in San Jose, California, which will create 123 deep affordable & quot; apartments. These apartments will provide on-site support services and convenient public transport services nearby. Residents will also receive annual VTA smartpass, which provides free bus and light rail services throughout Santa Clara County. < / P > < p > in addition to funding different projects with catalyst housing fund, the company also strives to support policy changes in organizations that address systemic issues in the housing crisis. These efforts should contribute to housing construction at all income levels, reduce costs and speed up housing construction, encourage sustainable development in areas with developed transportation, and address the impact of discriminatory housing policies that exclude communities of color and impede economic mobility of low-income families. SpaceX beat blue origin and Northrop Grumman to win a $316 million air force contract