Denver marijuana buyers would help pay for an expansion of the city’s 10-year, $150 million affordable housing fund under a plan that includes borrowing to amp up apartment production.
If approved, the proposal would boost the city’s shorter-term plan — to subsidize the building or preservation of 3,000 income-restricted apartments and other housing units in the next five years — to 6,400.
Mayor Michael Hancock and other city officials have been under pressure from City Council members and affordable housing advocates for more than a year to bolster the city’s commitment to addressing Denver’s housing crisis, and they unveiled their plan Monday. If key components win council approval this summer, the city would double an annual $15 million commitment that began last year, and it would partner with the Denver Housing Authority to issue $105 million in bonds to subsidize affordable housing projects and acquire new land across the city for income-qualified housing.
The property-buying spree could expand the pipeline of affordable housing projects planned by private developers by supplying them with land.
Leaders of All In Denver, a group of housing advocates, developers and residents, have pushed for the city to step up its public investment by commissioning polls and floating proposals. [Read more at The Denver Post]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
Australis Capital Inc. (CSE:AUSA) (OTC:AUSAF) CEO Terry Booth, who famously started Aurora Cannabis in 2006 before departing under duress in 2019, has a lot on his mind and his plate these days as he undertakes for the second time in his career the truly formidable task of steering a large cannabis venture into market relevance.…
Every cannabis and cannabis-related brand needs publicity to spread the word, boost awareness, and motivate people to buy its products and services. The challenge for businesses working in and with the cannabis industry is determining how to invest their time and marketing budgets to get publicity that actually drives the type of engagement that leads…
The hemp-derived cannabinoid market continues to grow and evolve despite lingering questions over federal legality and numerous state laws that try to keep pace. Much has been written about new “legal” hemp products that contain intoxicating delta-8 THC, delta-10 THC and THC-O Acetate. This article, however, seeks to highlight a brazen new use for familiar…
PRESS RELEASE The top payment processor for dispensaries and other cannabis businesses in the United States will be available for networking at the NECANN Cannabis Convention. WEST PALM BEACH, FLA. NOVEMBER 29, 2021 Paybotic is eager to announce that they will be an exhibitor at NECANN in Illinois and will be showcasing their financial solutions…