A new Oakland, California-based journalism venture will launch next spring with $1.56 million in funding from the Google News Initiative (GNI), executives tell Axios. It has also raised $1.56 million from the American Journalism Project, a new, well-funded venture philanthropy nonprofit focused on local news.

Why it matters: It's the third local news organization that Google has funded this year as part of its larger $300 million effort to support journalism.

Unlike previous projects Google has previously backed, this initiative isn't serving a small town. Oakland has 425,000 residents and sits in Google's back yard.

Yes, but: Like many other cities across the country, Oakland finds itself reeling from the economic crisis in local news.

In 2016, the Bay Area News Group (BANG) merged six daily newspapers into 2 publications, leaving Oakland without its own daily newspaper. The Oakland Tribune became a part of the East Bay Times, along with several nearby local papers.

Bay Area News Group (BANG) is owned by Digital First Media, a local media conglomerate, which is owned by media hedge fund Alden Global Capital. Reports surfaced this year suggesting BANG was bracing for significant layoffs.

Details: The publication will launch as a website next spring with eight editorial staffers. The team plans to launch a newsletter and is exploring other mediums, like podcasts. Its name is to be determined.

It's being launched by the same leadership team behind Berkeleyside, a local news outlet in Oakland's neighbor town.

by the same leadership team behind Berkeleyside, a local news outlet in Oakland's neighbor town. The site's editorial team will be led by editor-in-chief Tasneem Raja, a former senior editor at NPR and Mother Jones. She said she received written assurance that Google would have no input whatsoever into editorial decisions:

will be led by editor-in-chief Tasneem Raja, a former senior editor at NPR and Mother Jones. She said she received written assurance that Google would have no input whatsoever into editorial decisions: The business model will be a mix of non-profit donations, live experiences and underwriting from corporations.

The big picture: These news outlets are part of a trend in local media toward the non-profit model, which allows them to accept donations while still selling commercial sponsorships or advertising.