The city reached a deal to fend off a lawsuit that accused Denver of “abandonment of minority and women-owned businesses.”
DENVER — The city of Denver has reached a settlement with an investment fund after the collapse of a project to support women and minority-owned businesses.
The city of Denver has agreed to pay the Domestic Emerging Markets Investments (DEMI) Fund for all of its outstanding invoices. The deal ends the relationship that was created to benefit small businesses owned by women and people of color.
In March, the head of the fund sued the city, alleging that Denver leaders cut off funding, leading to the “abandonment of minority and women-owned businesses through brazen acts of willful misconduct.”
The city and the head of the fund released a joint statement Friday morning celebrating their work together, which ended in acrimony in early 2024.
The trailblazing project, set up in 2022, used a portion of cannabis taxes to expand …