Ideas

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Michael Hancock
Mayor | Denver, CO

New Home Ownership Program to Help those Affected by Redlining

IDEA CATAGORY: Equity & Opportunity, Housing

Problem

In Denver, communities of color have a long history of exclusion, with redlining and other discriminatory practices prohibiting where they could live, impacting employment, education, and homeownership opportunities. Currently, there’s 54% homeownership among white households, while it's under 41% for households of color.

Solution

Denver Mayor Michael Hancock announced a new social equity program to increase homeownership in communities of color. This initiative will assist residents directly impacted by redlining and gentrification with down payment assistance, such as interest-free loans that are forgiven after three years.

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IDEA CATAGORY: Smart Government | FUNDING SOURCE: ARP

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IDEA CATAGORY: Education | FUNDING SOURCE: ARP

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IDEA CATAGORY: Education | FUNDING SOURCE: ARP

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Denver: An Entrepreneurial City

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