Denver rent “buy-down” program that will subsidize market-rate apartments receives green light from council
“The Denver City Council signed off Monday on an unusual pilot program that will ‘buy down’ the rent for 125 households so that they can afford to live in market-rate apartments and other rental housing. Mayor Michael Hancock and city housing officials have portrayed the $1 million subsidy program as a targeted way to help some low- and middle-income families stay in Denver after years of fast-rising rents. The affordable housing program will function similarly to a popular housing voucher program overseen by the Denver Housing Authority but will help people who fall within a wider income range (up to $72,000 a year for a family of four).”