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Golden's 1% System

Golden's Comprehensive Plan includes goals to preserve a continuum of housing choices in the community to meet resident's needs, support an inclusive community and integrate affordable housing.  A key strategy is to identify and mitigate regulatory barriers and look for opportunities to help meet our community housing goals. When it comes to providing affordable housing in Golden, the greatest opportunity lies within the existing, diverse housing stock.  

However, given the need for housing to meet the diverse needs of Golden residents, we also need to be responsive to new construction opportunities.  Any new affordable housing development in Golden will need a predictable time frame for starting construction once all planning and financing approvals have been received.  The current  1% system treats new affordable housing the same a new market rate housing.  This puts new affordable housing developments at a significant disadvantage given the complexity of the funding and approval processes involved.  This is one regulation where some flexibility, as has been provided for senior, downtown and transit station housing, could be considered in order to help meet an important community goal while maintaining the intent of the 1% growth limitation. 

It should be noted that any type of preference within the 1% system will be insufficient by itself to enable new affordable housing to be built.  The purpose would be to prevent the 1% system acting as a barrier that would prevent a future, approved affordable housing development.