As Denver continues to grow, the cost of housing in the city remains high for many. In response, the city plans to build 6,000 affordable units over the next five years.
A proposal backed by the mayor hopes to address Denver's affordable housing issues with additional funds from a tax increase on marijuana sales. "Mayor Michael Hancock’s office said raising the city’s retail marijuana tax rate from 3.5 percent to 5.5 percent would allow Denver to increase its Affordable Housing Fund from $15 million to $30 million a year," Joey Bunch reports for the Colorado Springs Gazette.
The proposal was welcomed by The Marijuana Industry Group, whose spokesperson Kristi Kelly said that the industry wants to be "part of the solution," for affordable housing in the city, according to reporting from Brunch.
FULL STORY: Denver aims to double affordable-housing fund with pot-tax hike
Denver to Use Marijuana Taxes to Underwrite Affordable Housing Bonds
Mayor Michael Hancock has proposed a funding scheme to ramp up affordable housing production in the city of Denver.
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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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Report: Zoning Reforms Should Complement Nashville’s Ambitious Transit Plan
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