Denver's New Mandatory Affordable Housing Law
7 August 2002 - 7:00am
Denver adopts a mandatory affordable housing law that will give developers incentives to build more housing for low-income residents.
"Developers will get $5,000 per unit if they build homes for households that make between $35,000 and $55,000. The incentives grow to $10,000 a unit if the homes are for residents who earn less than $30,000.The program could cost the city about $1.5 million a year, depending on the number of units built. Developers have the option to buy out of the program, which will help fund the incentives."
Full Story:
City OKs incentives for low-cost housing
Source:
The Denver Post, August 6, 2002
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