Vala, here's an example of why a blog and fb page combo are a good thing.
www.facebook.com/profile.php?id=82002748...all&viewas=628402296
That is one of our community facebook pages. If you look at their wall, you will see that their blog auto feeds to their facebook page as well. Here's their blog
blog.homeisthecrest.com
. So, in essence, if you can just get the facebook page set up in addition to a blog you'll have good content being pushed to the fb page whenever you make a blog post. A great way to promote the blog as well.
Both the blog and fb page are controlled by our onsite teams. I have given them some direction, but they create the content and communication. The total content of our fb page is not stellar, but you will see we have friended mainly residents. As Mike suggested, I would check out Lisa Trosien's blog post for good content ideas. With the blog, our goal is to write at least 1 blog post per week. In writing this I realize we need to revisit our efforts on fb. At some point I'm not sure if it makes more sense to focus the efforts on a "Fan" page vs. the personal type account we have for our properties. With you just starting out, I suggest the "Fan" page type as that is the proper way for a business to use facebook.
If I've learned anything about social media it's that everybody uses it differently. There is no silver bullet/one-stop-shop solution to using social media. There are a ton of tools. The more you use, the more people you will touch.