MHC Updates

August 3, 2016

Affordable Housing & Community Facilities

Shared Spaces At Transit Hubs – How Transit Access And Shared Spaces Go Hand-In-Hand hosted by Denver Shared Spaces and Medici Communities
Learn from the incredible collaborative work of DSS partner Mile High Connects on how shared spaces are being incorporated into transit oriented developments, intersecting nonprofits with housing and services while addressing the need for quality employment and affordable fares. You won’t want to miss this given the immense amount of development currently underway in our region. Click here to register.

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City & County of Denver – Dedicated Revenue Source for Affordable Housing

Mile High Connects and many of its Steering Committee Organizations are deeply engaged in the ongoing conversation at the City & County of Denver regarding the establishment of a permanent, dedicated revenue source to support affordable housing preservation and development. Negotiations and stakeholder discussions remain ongoing, but the current proposal is to capitalize this resource with a combination of a 0.5 mill increase in property taxes and a new impact fee, ranging from $0.40 to $1.70 per square foot depending on development type) on all new development in the City. Based on current assumptions, the City estimates this will create approximately $155 million in new revenue over the next 10 years. MHC remains committed and supportive of the plan overall and is committed to remaining engaged with all relevant departments within the city to help shape the governance, public engagement, and utilization of the resources should the proposal pass City Council. MHC encourages all Denver stakeholders to engage in the process if you haven’t already. See the updated tentative calendar of events as it relates to this proposal Revised Housing Calendar (2016 07-26).


Capital Absorption – Leadership Forum

The Mile High Connects Capital Absorption Team hosted a Leadership Forum at the Denver Foundation on July 28, which was attended by over 40 leaders in the government, non-profit, development, brokerage, philanthropic, and private investment fields. The group engaged in a lively conversation about how to best achieve the ultimate goal of the Capital Absorption work, which is to build sustainable systems and structures to deploy public and private capital into strategic projects that create or preserve affordable housing, community serving commercial facilities, and mixed-use developments in low-income communities near transit. The team shared with the group its efforts to date and received valuable feedback and creative ideas for how we might continue to drive the work forward for the remainder of this year and into 2017, including the buildout in partnership with DRCOG, of a regional community development pipeline designed to help connect project sponsors with impact investors looking to place capital.


Three Things to Consider About the Nonprofit Real Estate Market

While skyrocketing housing costs are at the forefront of our minds, it’s also important to bear in mind the impact of rising commercial real estate rates as well. The risk for small businesses and nonprofits of being priced out of Denver is extremely high, according to the report released by Denver Shared Spaces. Nonprofit Centers Network, and Mile High Community Loan Fund. Learn more about the potential for displacement, ways to combat rising costs, and check out Mayor Michael B. Hancock’s commitments regarding nonprofit space here.


Upcoming Training and Feedback Opportunities

Sharing Your Inspiring Stories
The Denver Foundation has launched an interactive website called Floodlight for nonprofits to connect with donors of the Foundation. If you have an inspiring story to share, come learn how to build your story by using the platform. When: August 22nd, 9:00 – 11:00 am. Space is limited! Contact Carmen Holleman, cholleman@denverfoundation to RSVP or for more information. 
Denveright
As Denver continues to grow and change, what are your biggest concerns? What changes in land use, mobility, parks and recreational resources would make life in Denver more enjoyable? Click here to take the Community Vision Survey.