(The Center Square) – The city of Denver will review a $22.8 million plan to help 940 households deal with the costs of housing as part of the city’s effort in 2024 to wipe out homelessness.
The two motions are before the city’s Safety, Housing, Education & Homelessness Committee’s May 1 meeting.
According to the U.S. Census, Denver’s median rent averaged $1,665 a month from 2018 through 2022. Apartments.com listed the average rent in Denver for a 692-square foot, one-bedroom apartment at $1,686 a month as of April 2024.
The city’s housing program provides financial assistance to people who are earning up to 80% of the area median income that are “experiencing a financial or housing hardship.”
The city is reviewing spending an additional $4.4 million with the Brothers Redevelopment Inc. to increase the total contract to $8.8 million for 745 households. The city is also considering spending an additional $6.6 million to increase the total contract to $14 million with The Community Firm. That would serve a total of 1,950 households.
Denver’s Temporary Rental and Utility Assistance program is funded in part by the federal American Rescue Plan Act.
