Steve Ballmer made a $100 million investment in Inglewood as an early step in the development of a new arena for the Los Angeles Clippers.

The investment was negotiated alongside Inglewood city officials as part of an agreement that includes a new home for the Clippers.

$80 million of the investment will go towards affordable housing and assistance for first-time home buyers.

Ballmer's arena proposal includes a "billion-dollar-plus" of privately funded development located on over 26 acres in Inglewood.