Ballot Issue 2E: Vibrant Denver bond, $60 million for housing and shelters

The Vibrant Denver bond package would fund nearly $1 billion in infrastructure projects across Denver with long-term debt.

The package is split into five different categories on the ballot — transportation and mobility, parks and recreation, health and human services, city infrastructure and facilities, and housing and shelter.

Ballot Issue 2E funds about $60 million for housing and shelter facilities. While previous bonds typically only funded temporary shelter space, this one includes money for privately developed or city-owned affordable housing projects, as well as improvements to existing shelters.

Here’s the language you’ll see on your ballot:

Without imposing any new tax, shall City and County of Denver debt be increased $59,300,000, with a maximum repayment cost of $94,000,000, to be used for repairs and improvements to housing and shelter infrastructure and facilities, including but not limited to:

Building housing that will reduce rents and support affordability;
Providing affordable housing to be co-located with city facilities such as a library; and
Improving housing and shelters to make them safer and more accessible to people living with disabilities;

By the issuance and payment, or refinancing, of general obligation bonds, notes, or other obligations; and shall the taxes authorized at the city’s bond election in 2021 be extended and authorized to pay or refinance the debt authorized at this election in addition to the debt authorized at such prior election; and shall city ad valorem property taxes be increased without limitation as to rate but not more than a maximum amount of $8,945,000 annually, with the city to publicly report such expenditures annually?

How would it work?

The 2E package includes about $59 million of debt for projects, which could accrue about $35 million in interest over several decades.

The largest single spending item is $45 million for “Affordable Housing Project Development,” which could allow the city to buy land for development or acquire existing buildings to turn into affordable housing.

The city could choose to run an affordable housing complex by itself or lease the land to a developer. The city could also buy buildings and lease them to developers for use as affordable housing.

A total of $10 million is also set aside for construction of a new library that would also include affordable housing. Another $11.5 million is reserved for Americans with Disabilities Act improvements and deferred maintenance at city-managed affordable housing projects and shelters.

Housing was a major focus for advocates during the lead-up to the bond. Housing advocates argued that the funding is desperately needed to make the city more affordable. However, some wanted the bond to focus on fully public housing.

Other major housing nonprofits, though, have endorsed Vibrant Denver, including Colorado Coalition for the Homeless.

The bond’s focus on housing builds on Johnston’s 2024 attempt to get voters to approve a sales tax to fund affordable housing. That ballot measure failed, but Johnston said he remained committed to finding affordable housing solutions.

Vibrant Denver would be funded by the city’s existing property tax rates. Denver property owners pay 6.5 mills of taxes to pay down the city’s bonds. If some or all of Vibrant Denver is rejected, the city would instead use that money to repay its existing debt faster.

For more information on the bond package and how it works, check out our main explainer.

Ed. note: This guide was updated to note some local housing groups endorsed the bond package.