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It has been 10 years since the last GO bond issuance, the $550 million Better Denver Bond Program. The Better Denver Bond Program allowed Denver to improve, preserve and build roads, libraries, parks, city offices, and other facilities. You can see examples of these projects and read more about the last bond here. Initial public meetings will begin next month. Information gathered from the public will help identify a package of proposals that will be submitted to City Council next summer for referral to the November 2017 ballot. The foundation of investment considerations for the 2017 bond is based on Elevate 2020, the 2015-2020 Six Year Capital Improvement Plan (CIP). The CIP identifies Denver’s major city asset rehabilitation needs and new investment opportunities in capital infrastructure. Public and City Council input on the CIP and additional projects that are eligible are an important part of the process. Additional projects that the 2017 bond can pay for must be city-owned and -operated assets. The yearlong process will include four phases of thoughtful input and assessment: FALL Community meetings hosted by the City and Denver City Council members to help gather input:
WINTER Task Forces tapped to examine and prioritize short and long-term capital facilities and infrastructure needs of the city and make project recommendations. SPRING The recommended investments are presented to the public and additional engagement efforts are launched. SUMMER Proposed investment packages submitted to Denver City Council for referral to the November 2017 ballot. Those interested in providing input can submit questions and comments at any time during the yearlong process by emailing 2017GOBond@denvergov.org or visiting any of Denver’s libraries or recreation centers between November 14 and December 21. General information about the 2017 GO Bond process and regular updates will be provided at www.denvergov.org/2017GObond. FAQs
Q. What is a general obligation bond? A. Periodically, the City and County of Denver authorizes general obligation (GO) bonds to restore, replace, and expand infrastructure and capital assets across the city. GO Bonds are a debt obligation issued by local governments to fund public purpose capital improvements such as roads and public facilities and are backed by the full faith and credit of the city and payable from dedicated property tax mill levies. GO Bonds are proposed and voted on in citywide elections. The city’s last GO Bond initiative was the 2007 Better Denver Bond Program, which authorized an issuance of $550 million to fund capital improvements throughout the city. Q. When will Denver’s next general obligation bond be? A. Denver’s next GO Bond authorization is expected to be presented to voters in November 2017. The City and County of Denver, in partnership with Denver City Council, is initiating a public and stakeholder process to ensure our residents, businesses and neighborhoods have a hand in shaping the proposal that will go to voters next year. Q. How much will the bond be for? A. As with prior GO Bond measures, the amount of the 2017 GO Bond will not be finalized until the stakeholder process has concluded in spring 2017. Q. How can I or my organization participate in the bond? A. The foundation for the 2017 GO Bond will be based on Elevate 2020, the city’s 2015-2020 Six Year Capital Improvement Plan, which Additional projects identified by City Council, stakeholders and the public will be based on an assessment by stakeholder task forces in 2017. Residents, businesses and neighborhoods have the opportunity to tell us what improvement projects they would like to be included in the 2017 GO Bond. Starting mid-November, the community will have several avenues in which to provide their input on the GO Bond investments. Q. What if I have a question or comment about next year’s GO bond? A. Questions and comments about the 2017 GO Bond can be directed to 2017GOBond@denvergov.org. Q. What is eligible for funding? A. GO Bond investments must go toward restoring, replacing, and expanding infrastructure and capital assets for the city. Only city-owned assets are eligible for GO Bond funding and projects must be “shovel-ready” to qualify for consideration. The foundation for the 2017 GO Bond will be based on Elevate 2020, the city’s 2015-2020 Six-Year Capital Improvement Plan, which identifies Denver’s major city asset rehabilitation needs and new investment opportunities in capital infrastructure. identifies Denver’s major city asset rehabilitation needs and new investment opportunities in capital infrastructure. Q. How was the Six-Year Capital Improvement Plan developed? A. Every neighborhood in Denver is a unique and special place, and over the past couple of years, we have made intentional capital investments in neighborhoods to enhance pedestrian safety, improve multi‐modal connections, rehabilitate park assets and address deferred Six‐Year Capital Improvement Plan capital needs. Denver’s city charter mandates a six‐year capital planning process. City agencies identify initiatives or objectives to be accomplished within six years and list priority projects which support those objectives. The Six‐Year Capital Improvement Plan includes projects that continue major rehabilitation of city assets and new investments in capital infrastructure. Q. How will Denveright be coordinated with the 2017 GO Bond process? A. Denveright is a current community-driven planning process to help shape the future of our city in land use, mobility, parks and recreational resources over the next 20 years. Denveright plans are expected to be completed in early 2018. The GO Bond will be comprised only of city infrastructure projects that can be constructed in the next few years. Public input from the Denveright initiative will be considered when evaluating potential projects for GO Bond investments. Comments are closed.
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