Denver City Council is considering a $6 million grant proposal that would go toward acquiring at least 62 homes over the next three years to be available for affordable homes
DENVER — High housing prices are making homeownership a distant dream for more Coloradans. But on Monday,
"We don't make money on our deals, we are a non-profit. But what we really like is helping to build inter-generational wealth, which so many folks have been shut out of recently," said Tiana Patterson, VP of Social Impact and Wealth Equity at ECLT. "The trade-off is you do a shared appreciation. You don't take all of the appreciation out of the home, but you do pass it on to someone else who can also access permanent affordability," explained Patterson.
ECLT puts private capital into the projects in addition to grant funding and subsidies from partners and local governments.
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