The Denver City Council approved almost $7 million worth of contracts Monday for homeless services.
Contracts approved included:
Colorado Coalition for the Homeless, $480,000, provides respite care to people experiencing homelessness.
Salvation Army, $1.1 million, provides meals to the residents of the city’s tiny home communities for the homeless
Urban Peak, $1.9 million, provides shelter services, meals and more to youths experiencing homelessness.
Colorado Coalition for the Homeless, $3.4 million to house people experiencing chronic homelessness through the Pay for Performance program.
Investing in housing to save taxpayers money
The Pay for Performance program was formerly known as the Social Impact Bond, or SIB. The city created it in 2016. The program “aimed to increase housing stability and decrease jail stays among people who were experiencing chronic homelessness,” according to a memo from city staff to the council. “Since the launch of the Denver SIB, ongoing evaluations have proven the impact of supportive housing, through a Housing First approach, not only ends chronic homelessness and helps people find stability, but also reduces jail days and lowers the public costs of the homelessness-jail cycle.”