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Affordable Housing Bill Gets First Nod

DENVER-Opponents say a measure provides too much of a subsidy to developers who would set aside units selling between $100,000 and $200,000. Developers of projects with at least 30 units would be required to make at least 10% of them affordable to workers earning 80% of the median income.

By John Rebchook | Updated on April 12, 2002

DENVER-Despite opposition from developers and the Downtown Denver Partnership, the city council has given initial approval to a bill designed to provide more affordable housing to working-class people in new communities. The final vote and a public hearing on the measure will take place April 29.

The bill requires developers building projects with at least 30 units to make at least 10% of them affordable to workers earning 80% of the median income. That is about $51,000 for a family of four and $33,000 for single buyers.

Proponents of the measure say it will offer homes between $100,000 and $200,000 to people such as nurses, firefighters and teachers.

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