Facebook Announces Its Big Move [LIVE]

Facebook is leaving Palo Alto, its home for the past six years, and moving to Menlo Park. The social network is about to announce its plan to make it happen.

We're here live at the Menlo Park City Hall's Council Chamber, where Facebook and the City of Menlo Park are about to hold a joint press conference to announce the company's big move.

Our sources have told us that Facebook is indeed taking over the old Sun Microsystems campus north of Highway 101 in Menlo Park (we have pictures of Facebook's new offices), and an aerial view of the campus being displayed at this press conference confirms it.

We still don't know some of the key details, though. When will Facebook move? What other buildings has it acquired? Is Facebook getting a special deal? How many people does Facebook intend to support with the new 11-building complex?

Here are my live notes:

Facebook Moves to Menlo Park: Live Notes

All times are in Pacific Time

10:02 a.m. The room is filling up with city officials and the press. There are a lot of police officers roaming the premises.

10:07: Microphone issues!

10:09: The entire city council is here. The mayor, vice mayor and several council members are here.

10:09 Facebook's CFO is taking the stage.

10:10: Facebook makes it official: it's the Sun Microsystems campus.

10:11: "We will work hard to be a good neighbor and a good community member."

10:12: Facebook now has three fellows from the Environmental Defense Fund to help make the campus more green.

10:13: Mayor Richard Cline is discussing the move. He's happy to have Facebook in his town and makes it clear that this isn't coming as a surprise to Palo Alto, Facebook's current home. They've been collaborating on this move.

10:15: Cline is discussing the impact on the local community. Essentially, it's a chance to create new businesses around Facebook's new location.

10:16: Cline: "Hopefully the partnership will be long, and very rewarding."

10:19: Facebook's now revealing the details of its move. Facebook contacted Oracle about the potential sale a few months ago.

10:20: It can support 3,600 people now, but Facebook believes it can support more; 15-year long-term lease with an option to purchase the campus after five years. Facebook also purchased 22 acres of land nearby, the land formerly owned by General Motors.

10:21: The 22 acres won't be developed right now, but are there for flexibility.

10:21: Facebook could move in as soon as June or July.

10:22: Facebook's already renovating the office (so that's why there were so many chain link fences at the campus...).

10:23: Facebook will be hosting a Charrette on March 5. It's a hackathon for the Menlo Park area.

Q&A

Q: Tax breaks included in the purchase?

A: No.

Q: Is Facebook moving all of its operations out of Palo Alto?

A: Yes. But we're retaining our Palo Alto buildings -- leases end 2013.

Q: Financial impact on the city?

A: We're still discussing that and figuring out details. There could be exchanges for development. Facebook doesn't have a traditional sales tax model.

Q: People keep asking about the office/purchase price.

A: And they say they can't share at this time.

Q: Did Facebook look at other locations?

A: Yes. It wanted a location nearby where it is now. Sun's campus was "far and away" its first choice.

Q: How will the culture fit?

A: Facebook's culture is about bringing together energetic and motivated people to create something that connects people.

Q: How will Facebook keep the feel of the campus consistent from one end to the other?

A: Facebook says the buildings are connected by a central courtyard. It wants to give it an "urban street" feel.

Q: Parking?

A: 3,700 parking spots.

Q: How many jobs?

A: Don't know, but we're setting up a dedicated Menlo Park site for jobs so you can go to this website and have a recruiter dedicated to the Menlo Park residence.

Q: Perks? Will it be like Google?

A: We want to make Facebook a great working environment in our own way.

Q: Who's paying for the renovations on the building, since it's a part-lease?

A: Facebook is.

Q: A small business owner in Menlo Park is asking about the contract and subcontract work for the site.

A: Facebook might look into ways to let businesses bid on the Menlo Park project.

That's a wrap, folks.