The Denver City Council on Monday is expected to take up a measure that would provide a boost to affordable housing – a major issue for a city that is becoming increasingly unaffordable.
City officials say the proposal would fund the building or preservation of 6,000 affordable housing units over a decade. The city would use a combination of property taxes and new fees on new developments to pay for it. The small tax hike would cost homeowners an extra $12 in taxes each year.
The full council will take up the proposal for the first time on Monday, although it received unanimous support at a committee hearing last month. A final vote will be held at a meeting next week, one where the public will have a chance to weigh in.
A separate proposal that would provide more immediate funding through the city’s general fund could also receive debate.