Read more about this incredible project here below! #denver #housing https://lnkd.in/gEE_8zkT
Marijuana taxes have an impact in the push for more affordable housing in the City and County of Denver. Last month, Denver Mayor Mike Johnston helped break ground on a new affordable housing project in the Five Points neighborhood with funding partially coming from marijuana taxes. In 2018, City Council increased the special sales tax for retail marijuana from 3.5% to 5.5%. This 2% increase dedicated marijuana tax revenue to affordable housing programs. The increase went into effect in late 2018. The Affordable Housing Fund is administered by the Department of Housing Stability - City and County of Denver and supports land acquisitions, unit development and production, housing assistance and supportive housing services. In just more than five years, this tax has generated more than $45.5 million for the Affordable Housing Fund. Learn more about how marijuana taxes help with affordable housing projects and other areas in our marijuana annual report: https://bit.ly/40AwnLM