The City of Boulder has shared an update on its guaranteed income pilot project, aptly named Elevate Boulder, which initially rolled out in January 2024. According to the City of Boulder, the first eight months have brought noticeable benefits to participating low-income households receiving $500 monthly stipends. Elizabeth Crowe, Housing and Human Services deputy director, expressed that the assistance had significantly aided in housing costs, food security, and mental health, and enabled many to better manage basic expenses.

As part of the interim evaluation, substantial feedback was gathered from participants in August and October. The report points to various improvements, including reduced difficulties in paying for housing and utilities, less food insecurity, and a decline in psychological distress among the participants. Most of those surveyed also indicated that they are now feeling more capable of eventually reaching their financial aspirations, no doubt an encouraging sign.

A participant in the project shared their personal experience. "Before I was accepted into this program, I was struggling really hard to make ends meet. The extra $500 per month has changed my life for the better in ways that are impossible to describe," they said,  as per the City of Boulder, illustrating the direct impact on day-to-day living expenses and the broader financial relief provided.

Looking at the broader picture, Ana Nunes, Director at OMNI Institute, recognized an alignment with other similar direct cash assistance initiatives. "These early results are promising, with positive findings that are similar to some other direct cash assistance projects," she noted, as obtained by the City of Boulder. The organization will keenly await to conduct a more comprehensive assessment at the 20-month mark to gauge enduring impacts on financial stability and other vital outcomes.