$9 million in funding for Denver’s Basic Income Project to address pandemic’s impact on homelessness

The Denver Basic Income Project is a cash assistance program being piloted in Denver, Colorado, with the aim of providing financial support to people experiencing homelessness, according to a report by the website smartcitiesdive.com on September 21, 2022.

The project, which is funded by a combination of government and private funds totaling $9 million, will provide participating households with a maximum of $12,000 per year, divided into monthly payments. This makes it one of the more generous basic income initiatives being implemented in cities across the US, based on a published report by Planetizen on September 22, 2022.

The project is being funded in part by the American Rescue Plan Act (ARPA), which means the funds must be used to address the impacts of the pandemic. In Denver, the pandemic has had a significant impact on the city’s women and family shelter system, with the number of women using the shelters tripling since the start of the pandemic, according to Planitizen.

The hope is that the financial support provided through the Denver Basic Income Project will help recipients find housing more quickly, providing them with the stability they need to address other issues.

A released report by the Center for Housing and Homelessness Research stated that the University of Denver’s Center for Housing and Homelessness Research will evaluate the results of the project. Other cities in the US have implemented similar programs with generally positive results, including improved health, more stable income, and more full-time employment for recipients.

The New Leaf cash assistance project In Vancouver, British Columbia, provided a one-time payment of $7,500 to 50 people experiencing homelessness, with the average recipient moving into stable housing within three months.