(The Center Square) – The Denver City Council passed the Vibrant Denver Bond Package, which will now appear on the ballot in November.
The $950 million package will build or repair about 60 needed infrastructure projects throughout Denver.
Mayor Mike Johnston, who also signed off on the package, applauded the council’s efforts and collaboration with community members and the Vibrant Denver Bond Executive Committee.
“The Vibrant Denver Bond is a commitment to maintaining and preserving critical infrastructure and preparing and planning for the generations of Denver yet to come, and we are delighted to do both of those,” Johnston said. “Each of the projects in this package will bring our city one step forward to being safer, more affordable, more vibrant, and more joyful.”
This has been an ongoing process for the past few months. In total, hundreds of proposals were submitted by the public and city departments. After consideration, the committee initially proposed 48 projects, which the council then revised to a final count of 58.
“This bond reflects the voices of [the] community, the parents, neighbors, and advocates who showed up and helped shape a vision for a stronger, safer, more connected Denver,” said City Council President Amanda P. Sandoval. “We’re not just building for today, we’re building for the next seven generations.”
If passed, the bond package will fund projects to repair and improve Denver’s infrastructure, including roads, bridges, parks, playgrounds, libraries and more over the next six years.
The city says property taxes should not increase to fund the proposals that will be funded by the 2025 Vibrant Denver Bond.
“This bond represents $935 million in direct investment into infrastructure across Denver and will not result in a tax increase,” the city said.
The categories of funding break down as follows:
• 47% or $441 million for transportation and mobility, i.e. streets, bridges and traffic safety improvements.
• 26% or $244 million for improvements at city facilities residents use every day, like libraries, community centers, the animal shelter and more.
• 18% or $175 million for improving and expanding parks and recreation infrastructure, including city parks, pools, safer trails and children’s play areas.
• 9% or $89 million for a family health clinic, a children’s advocacy center, and affordable housing.
That leaves 12% or $112,000 million for “project administration and contingency.”
The Vibrant Denver Bond is a general obligation bond program, which is a “long-term debt instrument” issued by state or local governments to fund public capital improvement projects. These bond programs are authorized by Denver voters every four to 10 years and repaid through property taxes.
Since 2017, the city has completed nearly 400 of these bond-funded projects, spending more than $1 billion.
According to the city, because “Denver’s previous bond programs are nearly complete,” this creates capacity for new projects like those under the Vibrant Denver bond program without raising taxes.
“This is a nuts-and-bolts bond to fix the roads, make our neighborhoods safer, and improve our parks and libraries,” said City Councilman Darrell Watson. “At $950 million, the bond will create good jobs and build the critical infrastructure we need, without raising your taxes.”
Denver voters will have the chance to vote on the package on the Nov. 4 ballot.
