Mayor Michael Hancock has proposed a funding scheme to ramp up affordable housing production in the city of Denver.
"Denver marijuana buyers would help pay for an expansion of Denver’s 10-year, $150 million affordable housing fund under a plan that includes borrowing to amp up apartment production," reports Jon Murray.
Mayor Michael Hancock and other city officials released the plan in response to pressure from affordable housing advocates to do more in relieving the cost of housing the city's market.
"If key components win council approval this summer, the city would partner with the Denver Housing Authority to issue $105 million in bonds to underwrite affordable housing projects and acquire new land for income-qualified housing," reports Murray.
The new bond funding would be used to double the city's affordable housing targets in the next five years, to 6,400 new or protected affordable housing units.
Denver to Raise Sales Tax on Marijuana to Double Funds for Affordable Housing
As Denver continues to grow, the cost of housing in the city remains high for many. In response, the city plans to build 6,000 affordable units over the next five years.
Denver Moving Quickly to Preserve Affordable Housing Stock
Denver is considering its first steps toward an affordable housing preservation strategy, with time running out on the covenants that restrict rents on thousands of affordable housing units around the city.
Portland Housing Bond Created Nearly 5,000 Units, But Affordability Remains Out of Reach
Despite better-than-expected results from multiple local housing bonds, housing costs and homelessness remain top of mind for many Oregonians.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
Defunct Pittsburgh Power Plant to Become Residential Tower
A decommissioned steam heat plant will be redeveloped into almost 100 affordable housing units.
Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”
The TRB has eliminated more than half of its committees including those focused on climate, equity, and cities.
Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
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