DENVER BUSINESS JOURNAL - Private and philanthropic investors have put up $8.6 million in the last year to fund Denver's homeless initiative, which got 200 people off the street and into their own apartments.
The news comes one year after the city officially launched its first social impact bond program to support housing for homeless individuals. The results were published in the first independent evaluation by the Urban Institute and released Monday.
The idea of social impact bonding is to get private investors to put up money toward the program and, after measured success, the city would pay them back.
The city has partnered with eight private and institutional investors so far, mostly foundations and social welfare organizations.
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