Recently, the very first affordable housing fund was adopted by the City of Denver. Unfortunately, this resulted in numerous demonstrations. The organizers and supporters of these demonstrations marched in and around the city demanding that rent control was issued by the lawmakers within the state.
For just over three decades, rent control has been considered to be illegal throughout the State of Colorado. In 1981, a law was passed that banned rent control.
In 2000, the Supreme Court of the state reaffirmed the ban in the ruling called “Telluride Decision”. While banned, there are provisions that allowfor creative measures to address the state’s housing challenges.
The demonstrators and other advocates believe that the law should be repealed that was put into place in the year of 1981. This comes from the fact that families are experiencing numerous problems – in terms of finding and obtaining affordable housing.
The city has now provided a fund that is dedicated to creating affordable housing. This new trust includes a two-part system of funding.
The first part is property taxes and the second part consists of development fees that are placed on new real estate developments – whether residential or commercial. The monies obtained from these endeavors will then be used to construct affordable housing for tenants that have limited or low incomes. Given the popularity of the city and the general job market, new construction is nearly always taking place. This will result in a tremendous amount of money being made for the affordable housing endeavor in Denver.
Protesters do not appreciate the fines that will be imposed upon them in order to construct the affordable housing units. However, many are highly supportive of this move.
Many flock to Denver because of the job market and the educational opportunities. Unfortunately, most are unable to afford property in and around the city.
If they do manage to get into a housing unit, it typically does not take long before they realize that they are unable to afford it. Then, they either have to move out on their own or are evicted.
Denver landlords may actually require a tenant to vacate the premises in just 10 days’ time. Today, though, demonstrators are pushing for a change. They are working to create a city that offers opportunities for families of all income brackets to find a home in the city.