Comments on CoorsTek 12.4-acre Rezoning for Redevelopment
Updated: Jun 6
Read June 4 public comments submitted by Golden United's Housing Task Force HERE
Read April 4 public comments submitted by Golden United's Housing Task Force HERE
Read February 21 comments submitted by Golden United's Housing Task Force HERE
Golden's City Council will hold a Public Hearing on the CoorsTek rezoning request to redevelop their 12.4-acre industrial site in Golden's downtown area on Tuesday, June 7, 2022, at 6:30 pm in City Hall Council Chambers, 911 10th Street. They will consider an application for rezoning 12.4 acres to Planned Unit Development (PUD) with an Official Development Plan (ODP). City Council also will determine whether the ODP and an associated Vesting Agreement shall be considered a site-specific development plan and establish vested property rights for a period of 20 years.
You can email your public comment to PublicComment@cityofgolden.net by 1 p.m. on Tuesday, June 7.
The Planning Commission of the City of Golden approved cases PC21-12 & PC21-18 on April 28, 2022.
For more information about this project and links to the official documents, go to:
Public comments from previous hearings with Planning Commission can be viewed at:
April 28: https://docs.google.com/gview?url=https%3A%2F%2Fgoldenco.granicus.com%2FDocumentViewer.php%3Ffile%3Dgoldenco_0cfeb9dabf60e137f82a73596e1763a7.pdf%26view%3D1&embedded=true (see end of document)
April 18: https://docs.google.com/gview?url=https%3A%2F%2Fgoldenco.granicus.com%2FDocumentViewer.php%3Ffile%3Dgoldenco_38b58ac2d15129731b48a563723230ae.pdf%26view%3D1&embedded=true (see end of document)
April 6: https://goldenco.granicus.com/GeneratedAgendaViewer.php?view_id=2&clip_id=4416 (listed under item #5) February 23: https://goldenco.granicus.com/GeneratedAgendaViewer.php?view_id=2&clip_id=4375 (listed under item #5)
Comments from Golden United's Housing Task Force
Inclusion of affordable, income-restricted housing in the rezoning documents should be considered an impact-mitigation measure rather than an exchange for zoning-related allowances for this redevelopment project.
Income levels for income-restricted housing need to accommodate the salary spectrum of workers for this redevelopment (business, hotel, and retail workers). We suggest a broad income range of 60% to 120% Area Median Income (AMI) (currently $49,260 to $98,520 income for one person) for the income-restricted housing.
Please see https://www.goldenunited.org/post/learn-the-lingo-what-is-ami for a more detailed discussion of AMI.
Salary ranges for teachers, nurses, firefighters, police officers, and various essential and service workers within Area Median Income (AMI) levels. The stippled area is the 80% to 120% AMI range defined as Workforce Housing in the CoorsTek PUD/ODP. Please note that the 80% to 120% AMI range is higher than the salary ranges of many teachers and firefighters and most essential and service workers.
In other words, the 80% to 120% income range in the PUD/ODP excludes many of our teachers and essential and service workers. Jeffco Public School’s website gives an estimate of initial salary for a licensed teacher with a Bachelor’s degree to be about $43,274 (which translates to about 53% AMI for one person), and a licensed teacher with 8 years’ experience and a Master’s degree to be about $64,502 (which translates to about 79% AMI).
Building all 120% AMI housing units would exclude most of our critical and essential workforce and produce rental housing that is currently above Golden's market-rate rent. (Salary ranges were compiled from job postings on indeed.com for Golden (within 25 miles) in February 2022.)
Below is an illustration that shows the job listings on indeed.com specifically for CoorsTek in Golden. Please note that the CoorsTek job listings predominantly fall within the 50%-80% AMI range.
Increase the income-restricted housing units to at least the greater of 15% of the total residential units or 50 units (which is15% of the 330 residential units listed in shared parking summary tables) for a range of incomes with a variety of unit sizes proportional to demonstrated community needs at the time of development.
This high-impact redevelopment project will bring lots of new jobs and new people to Golden.
Denver’s current policy study found that, in high-cost markets (like Golden’s), 15% of income-restricted units for households with incomes up to 80% AMI does not impose an undue financial burden on the developer.
Remove the Workforce Housing section from the PUD/ODP vesting section. Do not encumber future housing needs and opportunities with a 20-year (or even 10-year) vesting term, which limits future housing considerations to those of 2022. The income-restricted housing commitments in the PUD/ODP should enable flexibility to adapt to changing needs, opportunities, potential partners, and policies over the 10- to 20-year timeframe of the redevelopment project. The vesting term eliminates this flexibility.
Set cash in lieu fees for income-restricted housing associated with this PUD/ODP. The City needs to include specifications, conditions, and fees in the PUD/ODP. The fees will need to be commensurate with building costs and have a time-adjustment factor due to the 10- to 20-year development timeline and current 20-year vesting term of the Workforce Housing section. Create a Housing Trust Fund to accumulate any cash in lieu fees generated through this PUD ODP.