| | | | | | | | VAIL TOWN COUNCIL AGENDA MEMO
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| | | | | | | | ITEM/TOPIC: Resolution No. 41, Series of 2018, A Resolution Supporting Proposition 110 "Let's Go, Colorado" to Increase Funding for Statewide and Local Transportation
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| | | | | | | | PRESENTER(S): Matt Mire, Town Attorney
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| | | | | | | | ACTION REQUESTED OF COUNCIL: Approve or deny Resolution No. 41, Series of 2018.
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| | | | | | | | BACKGROUND: 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. The increased demands on Colorado's transportation infrastructure has resulted in increased traffic congestion, safety concerns, air pollution, and lost worker productivity. the Colorado Department of Transportation (CDOT) has identified $9 billion in much needed statewide transportation projects that lack funding. 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. 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.
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