Progress across the United States of America today…
Oscar Perry Abello – NEXT CITY
The city of Denver this year entered into a social impact bond (SIB) contract to reduce chronic homelessness and issues related to it, like overcrowded jails. It’s one of a wave of SIBs in the United States, including 11 like Denver’s that have closed and dozens more in the pipeline.
Nathan Bernier – KUT
Homeless advocates in Austin got a $1.1 million infusion from the federal government to advance a relatively new, market-based approach to getting people off the streets.
The Pay for Success initiative would seek investors to help fund programs to house homeless people, and then share in some of the government cost-savings of not having those same people be treated by emergency medical services, wind up in jail or otherwise require costly government services. In theory, the most successful programs would receive the greatest financial reward – incentivizing cost-efficiency.