Denver initiative would tap $8.7 million from investors to house the homeless, By Jon Murray, January 12, 2016, Denver Post: “Denver officials on Tuesday will unveil long-awaited details of a novel $8.7 million ‘social impact bond’ contract that would draw on private dollars to house and rehabilitate 250 of its most chronically homeless. In the proposed arrangement, investors providing startup money to the city could earn back as much as $11.7 million — including up to $3 million in bonuses — or they could lose out on full repayment. It all would depend on how well the program keeps participants out of jail, the emergency room, detox and other costly services in the next five years — saving the city millions of dollars a year. Each client would get housing and a case manager along with mental health or drug counseling, if needed…”
Tag: Colorado
Cliff Effect of Public Assistance Programs
Why getting ahead often feels like falling behind when you’re poor, By Megan Verlee, November 3, 2015, Colorado Public Radio: “Call it poverty’s ‘glass ceiling.’ The way many public benefit programs are structured, even minor increases in income can result in a big loss in assistance. That’s sometimes so large a loss that it can send families tumbling backwards just when they thought they were finally getting ahead. Longmont resident Tracey Jones knows all about the phenomenon, often called the ‘cliff effect.’ She’s been living at its edge for several years now…”
Wage Gap – Colorado
Report: Persistent wage gap contributing to poverty among women, By Alicia Wallace, October 27, 2015, Denver Post: “In 2004, the last time the Institute for Women’s Policy Research released state-by-state wage gap data, Colorado’s women earned a median salary of $32,200, or 78.7 percent of their male counterparts. More than a decade later, women are earning 80 cents for every dollar a man makes for the same work…”