Nearly six hours after Denver’s city council meeting began on Monday evening, leaders voted to approve the “Expanding Housing Affordability” policy.
It’s a joint effort by Mayor Michael Hancock and city council, in an effort to increase access to affordable housing across Denver. The city says it worked for more than a year to develop the policy, which will take effect on July 1.
The proposal drew mixed opinions on both sides of the topic. Jerry Burton with the Housekeys Action Network was vehemently opposed to the proposal. He talked with CBS4’s Mekialaya White as he waited outside chamber doors for his turn during public comment. “I was homeless. It’s not pretty. For every year you’re out there , it takes five years off your life. The longer you’re out there the more susceptible you are to becoming a drug addict, an alcoholic.
Denver city planners say they plan to provide stability under the new ordinance. Under the plan, all new residential developments of 10 or more units must designate a minimum of 8% to 12% of the units as affordable for a period of 99 years, regardless of whether the units are for rent or for sale. The exact percentage will vary based on the level of affordability offered, but in all scenarios, these homes would need to be affordable for households making less than the area median income .
“If you are poor and houseless, this bill is not made to create housing for our community,” echoed Therese Howard. “ specifically aimed for people who are above 60% area median income. There is no housing mandated in this bill for people who are 50 percent below AMI. The solution is that housing is a public responsibility just like public schools or medical care — not a private commodity to be kept at insane prices.
In higher-cost areas of the city, like downtown and Cherry Creek, developers would need to designate a minimum of 10% to 15% of new units as affordable. The ordinance also includes zoning and financial incentives to help offset the cost of building affordable units and to increase the overall supply of housing in Denver.
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