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HomeMy WebLinkAbout2018-41 Proposition 110 "Let's Go Colorado" to increase Funding for Statewide and Local Transportation NeedsRESOLUTION NO. 41 Series of 2018 A RESOLUTION SUPPORTING PROPOSITION 110 "LET'S GO, COLORADO" TO INCREASE FUNDING FOR STATEWIDE AND LOCAL TRANSPORTATION NEEDS WHEREAS, the Town of Vail (the "Town"), in the County of Eagle and State of Colorado is a home rule municipal corporation duly organized and existing under the laws of the State of Colorado and the Town Charter (the "Charter"); WHEREAS, the members of the Town Council of the Town (the "Council") have been duly elected and qualified; WHEREAS, on November 6, 2018, state voters will have the opportunity to support a measure to increase the state sales tax by 0.62% for twenty years, or about six cents on a ten -dollar purchase, for statewide and local transportation needs; WHEREAS, a modern, safe, and efficient 21st century transportation system is essential to Colorado's quality of life and the health of our economy; WHEREAS, annual state transportation spending per driver, adjusted for inflation, is about half of what it was during 199111992 --the last time that the state and federal gas taxes were raised --while Colorado's population has grown nearly 60 percent since that time; and WHEREAS, the increased demands on Colorado's transportation infrastructure has resulted in increased traffic congestion, safety concerns, air pollution, and lost worker productivity; WHEREAS, the Colorado Department of Transportation (CDOT) has identified $9 billion in much needed statewide transportation projects that lack funding; WHEREAS, Eagle County has identified a significant shortfall in the funding necessary to maintain its transportation infrastructure, ensure safety, and meet mobility needs; WHEREAS, the failure to maintain roads and bridges adequately costs Coloradans an average of $468 per driver per year due to damage and unnecessary wear -and -tear to vehicles; WHEREAS, addressing Colorado's transportation funding challenges requires a dedicated, sufficient, and guaranteed stream of revenue at the state and local levels; WHEREAS, a bipartisan, statewide group of local elected officials and business leaders has proposed to raise the state sales tax by 0.62 percent, or about six cents on a ten -dollar purchase, for transportation needs; WHEREAS, Proposition 110 could be expected to raise $767 million in its first year and allow for the bonding of $6 billion for state transportation projects; WHEREAS, of the revenue generated by Proposition 110, 60 percent would be directed to statewide transportation projects, multimodal transportation investments, and bond repayment. Two examples of high profile, regional priorities for Eagle County residents, workers, and visitors with a $234.5 million funding commitment include: Resolution No. 41. Series 2018 1-70 West Vail Pass Auxiliary Lanes, Phase 1 1-70 West: Dowd Canyon Interchange; and WHEREAS, the remaining 40 percent of new revenue would be allocated equally between county and municipal governments and made available for multimodal capital or operational expenses as determined by local transportation needs. Potential projects include: • New roundabouts along Highway 6 in West Edwards • Road and pedestrian safety improvements along Highway 6 in Eagle and Gypsum • Road and signal improvements at Highway 82 and EI Jebel Road • Road and safety improvements along Frying Pan Road • Eco Transit bus fleet electrification • Improved Eco Transit Park 'n Ride facilities • Expanded Eco Transit routes and commuter service • Eagle River Valley Trail completion • Increased bike share programming throughout valleys; and WHEREAS, Eagle County and its communities are expected to receive over $58.5 million in state transportation funding for local projects over the next 20 years from this revenue source, which will help bring an estimated $293 million in additional transportation funding to improve Eagle County mobility; WHEREAS, local revenues can also be used to leverage state dollars for these local projects; and WHEREAS, Eagle County Government will continue to work with CDOT through the Intermountain Transportation Planning Region process to identify, prioritize and fund additional transportation projects and multimodal transportation investments that are vital to Eagle County interests. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Council hereby endorses Proposition 110 as a strong solution to address Colorado's transportation funding shortfalls and provide for the mobility needs of all Eagle County residents, workers, and visitors. INTRODUCED, PASSED AND ADOPTED at a regular meeting of th Town Council of the Town of Vail held this 16th day of October, 2018. . ) 0 ave Ch in, ToMayor 7A N OF �,� �1 a c nny, T Jerk Resolution No. 41, Series 2018 � IP �'A0RATep