DENVER BUSINESS JOURNAL - Two proposals to promote affordable housing in Denver have made their way to a public comment session and a vote of the Denver City Council on Sept. 19 following an initial vote by the council Monday night.
Both proposals would create an affordable housing fund, but they differ in the ways the fund would be financed.
The first measure, put forth by council members Robin Kniech and Albus Brooks after a lengthy process involving stakeholder meetings and various economic studies, was unanimously advanced to a final vote.
Details of the plan were released in July. It would raise property taxes across the city by half a mill -- 50 cents in taxes per $1,000 in taxable value.
It also would impose fees on new development varying in cost based upon the kind of development.
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