Up to $3.5 billion in funding for road and bridge construction and upgrade projects will be made available, depending upon the fate of a statewide initiative that will be decided by Colorado voters in November.
Proposition 109 will allow for a transportation-only delegation of state funding for such projects as the expansion, construction, and maintenance of roads and bridges throughout Colorado.
The proposition is commonly known as the Fix Our Damn Roads Initiative and will authorize bonds to fund transportation projects, with repayment to come from the state’s general fund.
Some 65 projects have been listed as projects that will be funded.
If approved, the proposition would direct the CDOT to borrow up to $3.5 billion by selling transportation revenue bonds. Those bonds would have to be rapid in two decades.
Noting that the Colorado Legislative Council has forecast that the state will be receiving revenues of up to $900 million in state income taxes in the next several years, Colorado Springs Mayor John Suthers has endorsed the proposition, noting that the legislature would be spending “less than a third of the windfall on building new roads.”
Writing for the Colorado Springs Gazette, Suthers said: “Proposition 109 tells the state to reallocate less than one percent of its massive budget to roads. We all could find one percent of our household budget if we needed to. Do you really believe the state couldn’t do the same?”
The proposition is opposed by several public bodies, including the Summit Board of County Commissioners, which voted this month against the initiative saying it would divert money from public education, health, and other state services.
By Garry Boulard
Get stories like these right to your inbox.