Denver’s new five-year housing policy, strategy and investment plan, Housing an Inclusive Denver, was adopted last night by Denver City Council.
Housing an Inclusive Denver outlines the strategies that will guide Denver’s affordable housing investments to create and preserve strong neighborhoods and diverse housing options that are accessible and affordable to all Denver residents. It is centered around four fundamental values:
“The adoption of our plan is a milestone in our work to ensure safe, affordable and accessible housing for every Denver resident,” Mayor Michael B. Hancock said. “This plan will guide our future housing investments in a way that reflects our city’s values, especially when it comes to helping lift up those residents that need our support the most.”
Last night’s council adoption concludes a 12-month process of research, analysis, debate, and public input. Action plans that support the implementation of Housing an Inclusive Denver will be adopted annually by the Denver Office of Economic Development. The Action Plan for 2018 will be reviewed and discussed at the next Housing Advisory Committee meeting, set for March 1.
The 2018-2023 plan recommendations include investment guidelines balanced along the income spectrum, with 40-50% of the city’s combined housing resources supporting people experiencing homeless and/or earning below 30% Area Median Income (AMI), 20-30% of housing dollars serving renters earning between 31% and 80% AMI, and 20-30% of investments serving residents seeking to become homeowners or remain in homes they own.
Housing an Inclusive Denver is available to view or download here. The full plan is being translated into Spanish and will be available to view or download on OED’s website in the coming weeks.
The Denver Office of Economic Development (OED) is dedicated to advancing economic prosperity for the City of Denver, its businesses, neighborhoods and residents. Working with a wide variety of community partners, OED operates to create a local environment that stimulates balanced growth through job creation, business assistance, housing options, neighborhood redevelopment and the development of a skilled workforce.
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