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Bloomberg
Stanford University, hoping to appease officials opposed to its planned expansion, is offering to spend $4.7 billion to relieve pressures on housing and transit that are plaguing residents of California’s Bay Area.
The offer would be part of an agreement with Santa Clara County to support the school’s application for a long-term land use permit, according to a statement from Stanford,†according to the statement.
“This offer clearly exceeds what can be achieved through the county’s current approach and includes billions of dollars in housing and traffic relief that Stanford wants to provide and our neighbors are asking for,†Stanford representative E.J. Miranda said in an emailed statement.