The Denver City Council gave the go-ahead Monday to dedicate $15 million in marijuana sales tax money to a new investment fund that will support minority- and women-owned businesses.
The Denver City Council on Monday dedicated $15 million in marijuana sales tax money to a new investment fund that will support minority- and women-owned businesses.and former chairman of the National Black Chamber of Commerce, is primed to invest in dozens of local businesses over the next three years after the council’s vote.
Denver’s financial commitment will grow the investments already committed to the New Community Transformation Fund-Denver to $24 million, according to a city news release.is already eyeing two one-year extensions to the contract with hopes that the fund will grow into a $50 million revolving fund that can be a long-term asset to the city’s economic development efforts, according to a news release.
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