The Denver Basic Income Project is providing hundreds of residents experiencing homelessness with cash, no strings attached.
The project started when Denver philanthropist Mark Donovan gave $1,000 a month to 10 different people.
"I was struck profoundly by what a difference it made for them and how simple and immediate it was for them," Donovan told Westword.
In September, the Denver Basic Income Project will provide 520 homeless people with cash. Donovan has already donated $500,000 of his own money to get the project going and he hopes a partnership with the University of Denver will help to get it launched.
The project is anticipated to cost $6 million in total. Donovan will also be fundraising and says he's already received a commitment from individual donors and foundations.
The people receiving money will be split into two cohorts. One cohort made up of 260 individuals will receive $1,000 a month for twelve months and the other 260 will receive $6,500 upfront and $500 a month for another 11 months.
A control group will also get $50 a month.
Donovan and other people working on the project told Westword they plan to ensure the group of recipients will be diverse and reflect the homeless community's over-representation of Black and Native American individuals.
You can find updates on the Denver Basic Income Project here.
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