Denver establishes new mandatory affordable housing fund
“Denver City Council gave final approval Monday to the creation of a new special revenue fund to hold fee-in-lieu dollars paid to the city as part of its Expanding Housing Affordability Guidelines.
The Mandatory Affordable Housing Fee-In-Lieu Fund will hold money developers pay to the city should they decide not to build affordable housing on that site. The fund is designated to create additional affordable housing throughout the city.
Council approved the housing affordability program in early June, which requires that a certain amount of affordable units be developed alongside market-rate condos and apartments, with zoning and financial incentives included as well.”