Social Impact Bonds Help Keep People off the Streets and Out of Jail
Date:  11-02-2017

Denver pays private investors $188,000 for successfully finding chronically homeless people a place to live
From Colorado Public Radio:

The City of Denver announced a $188,000 payment to private investors on Monday, all because people like Manuel Valdez have managed to stay in their new homes and off of the streets.

After years of off-and-on homelessness, Valdez moved into in a one-bedroom apartment in Englewood last summer. He was one of 250 individuals identified as chronically homeless by Denver in 2016. The status landed him a spot in the new housing program.

“It feels good to say I’m going home,” he said, jingling his keys. “Knowing I have somewhere to go every night. I’m at peace, I’m less stressed and I’m making it to my doctor’s appointments.”

People in the program, like Valdez, frequented jails or used a lot of emergency medical services while on the streets. The city hopes to save money by housing them, and use those savings to repay eight private investors. The payment announced Monday covers the first year of the 5-year program. Continue reading >>>