The state’s Tenant Equity Vehicle program is testing out ways to give renters a small financial stake in state-funded affordable housing. Here’s how it works.
Next City: Roshan Abraham
Danielle Rickards is a 30-year-old single mother and a full-time caretaker to her 5-year-old daughter, who has a rare heart condition. For many Americans in similar circumstances, the pressures of affording rent and daily expenses are a constant and crushing burden.
But she counts herself lucky: She found an affordable two-bedroom apartment in Grand Junction, Colorado, where rent is subsidized by the local housing authority. On top of that, she also receives a rare financial bonus, part of an experimental program to build equity for affordable housing tenants in Colorado.