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Denver City Council considers $6 million grant for permanent affordable homeownership

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Denver City Council considers  million grant for permanent affordable homeownership


DENVER — High housing prices are making homeownership a distant dream for more Coloradans. But on Monday, Denver City Council will debate a $6,220,000 grant proposal that would go toward acquiring at least 62 homes over the next three years to be available for affordable homes.

The most recent Cato Institute 2022 Housing Affordability National Survey shows 55% of current homeowners said they would not be able to afford their home at current housing prices, and 69% said they worry their children or grandchildren won’t be able to afford a home.

Carmen Mayta was someone who thought she’d never be able to become a homeowner.

“I was feeling that hopeless. No, I won’t qualify for anything. I don’t have 10% or 20% to put down for a property. I don’t have savings,” she said.

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That was before she applied to work with Elevation Community Land Trust, a local non-profit that uses the community land trust model to provide permanently affordable homeownership opportunities to hundreds of people across Colorado.

“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.

ECLT builds housing or purchases houses, fixes them up, then sells them at a price affordable to lower-income families. The homeowner owns the home, but the land stays in trust.

A recent ECLT property in Aurora just closed for $299,000 while homes of a similar size for sale right now in the same neighborhood range between $325,000-$430,000.

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Denver City Council considers $6 million grant for permanent affordable homeownership

“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.

If a homeowner sells the home, the price needs to be what they paid for it, plus only a quarter of what it appreciated for over the years. That keeps the property affordable for the next person.

“It’s a model that maybe isn’t for everyone, but for those who’ve been waiting for a way to get their first home, or get into, you know, just out of a renting situation. This could be a really good option,” said Patterson.

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ECLT puts private capital into the projects in addition to grant funding and subsidies from partners and local governments.

The majority of the $6 million ECLT grant would come from the American Rescue Plan Act and state and local fiscal recovery funds and $700,000 from Impact Investment Funds.

“I think we’ve proven to the city that we are a partner who gets things done, who provides this homeownership model, and we’ve been working with them since about 2018,” said Patterson of the upcoming decision.


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Children’s Hospital signs deal with insurer to maintain continuity of care for Colorado military families

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Children’s Hospital signs deal with insurer to maintain continuity of care for Colorado military families


Children’s Hospital Colorado signed an agreement this week with TriWest Healthcare Alliance to remain in network with Tricare, which will ensure that Children’s medical services for uniformed service members, retirees and their families in Colorado don’t lapse.

The new arrangement, which begins on Jan. 1, comes as Tricare switches third-party companies — from Health Net to TriWest — to administer its healthcare plans. Tricare is overseen by the Defense Health Agency, which is part of the U.S. Department of Defense.

In a press release, Children’s Hospital Colorado said the new deal supplants a plan that would have moved it to a non-network participation status with Tricare. Children’s said Tricare reimbursement for children’s hospitals remains “well below the cost of providing care.”

This past spring, Children’s warned that it would have to make cuts to key departments this year because of a change in how Tricare pays for care. The insurer tied the payments to what Medicare would pay for the same services, as Tricare does for services to adults at civilian hospitals.

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The U.S. Department of Defense said the change, which was implemented in October 2023, would save the military up to $45 million in taxpayer funds annually, according to the Military Times.

Children’s Hospital Colorado estimated it had lost about $2.1 million a month since the reimbursement change was put in place compared to how Tricare used to pay. The system estimated about 16,000 kids insured by Tricare receive care at Children’s Hospital Colorado facilities, and about one in five children who receive care at the Colorado Springs hospital and clinics have military coverage.

Children’s this week said it will continue conferring with the Department of Defense, and elected officials, to ensure it can maintain high-quality, specialty pediatric care for all kids in Colorado.

“We are grateful for all the individuals and families who have joined us in our efforts over the past 18 months to address these TRICARE cuts,” the hospital said in a statement. “We will continue to share opportunities where your advocacy can help us preserve critical access to healthcare services for military families like yours at Children’s Colorado.”

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Cleveland plays Denver on 5-game win streak

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Cleveland plays Denver on 5-game win streak


Associated Press

Cleveland Cavaliers (26-4, first in the Eastern Conference) vs. Denver Nuggets (16-11, fifth in the Western Conference)

Denver; Friday, 9 p.m. EST

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BOTTOM LINE: Cleveland will attempt to keep its five-game win streak alive when the Cavaliers take on Denver.

The Nuggets are 8-4 on their home court. Denver leads the Western Conference with 20.3 fast break points led by Christian Braun averaging 4.8.

The Cavaliers are 9-3 in road games. Cleveland ranks fourth in the Eastern Conference scoring 50.7 points per game in the paint led by Evan Mobley averaging 12.2.

The 119.8 points per game the Nuggets score are 9.6 more points than the Cavaliers give up (110.2). The Cavaliers average 16.1 made 3-pointers per game this season, 2.2 more made shots on average than the 13.9 per game the Nuggets allow.

TOP PERFORMERS: Nikola Jokic is averaging 30.9 points, 12.5 rebounds, 9.7 assists and 1.7 steals for the Nuggets.

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Mobley is scoring 18.5 points per game and averaging 9.0 rebounds for the Cavaliers.

LAST 10 GAMES: Nuggets: 6-4, averaging 123.2 points, 45.8 rebounds, 33.6 assists, 9.5 steals and 4.5 blocks per game while shooting 52.7% from the field. Their opponents have averaged 117.2 points per game.

Cavaliers: 9-1, averaging 120.7 points, 44.8 rebounds, 29.2 assists, 8.9 steals and 3.6 blocks per game while shooting 48.8% from the field. Their opponents have averaged 105.5 points.

INJURIES: Nuggets: Aaron Gordon: day to day (calf), DaRon Holmes II: out for season (achilles), Vlatko Cancar: out (knee).

Cavaliers: Emoni Bates: out (knee), Isaac Okoro: out (shoulder), Dean Wade: day to day (knee).

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The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.




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Colorado State Patrol urges drivers to remain in Denver amid winter weather in the mountains

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Colorado State Patrol urges drivers to remain in Denver amid winter weather in the mountains


GEORGETOWN, Colo. — The Colorado State Patrol said the “best option” is to remain in Denver amid winter weather that’s impacting roadways in the mountains.

In a post on X, formerly Twitter, the agency said westbound Interstate 70 is closed at Georgetown due to unsafe conditions between Georgetown and the Palmer Divide.

There is limited lodging and parking in Clear Creek County, according to CSP. The agency said the “best option is to stay in Denver.” It is unclear when the roadway will reopen.

Eastbound I-70 traffic was held at the Eisenhower Tunnel due to a crash just east of the tunnel, according to CSP. The roadway has since reopened.

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This is a developing story and will be updated.

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