City Council Minutes 2018 09 11 SP

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City Council Meeting Minutes September 11, 2018 Page 5 of 13 Councilmember Stolzmann said we need to look at all the available options for transportation. Transportation Funding Deputy City Manager Davis stated in 2018 the Colorado General Assembly passed Senate Bill 18-01 that would provide increased funding to local municipalities and CDOT to address the unmet transportation needs around the state. SB18-01 also contemplated a statewide ballot measure for additional funding. In late August, the Secretary of State announced the inclusion on the November 2018 ballot of two statewide ballot measures regarding transportation: Initiative 153 which includes a .62% sales tax increase for transportation and Initiative 167 which requires additional state spending on transportation. In addition, there are several other measures voters will face on the November 2018 ballot which may have an impact on the City. In July 2018, the CDOT Transportation Commission adopted a list of projects that would utilize bond funds from a new sales tax or state budget funds (depending on if/what ballot issue might pass) for completion; the list includes Highway projects, multimodal projects and statewide programs. Of the two measures, Initiative 153 is the only measure that would generate new transportation funds vs. utilizing existing state budget funds. The majority of the projects on the CDOT list would depend upon the generation of new tax dollars. The City of Louisville has one project on the list for the new statewide ballot measure, State Highway 42, which would receive $20 million of state funds, some of which would require a match, for approximately $28 million ($20 million CDOT ballot funding + $7.8 million required match). The northwest region would also receive significant funding for regional priorities throughout the area through the adopted list of projects, totaling $915 million ($705 million + $210 million match). In addition, the sales tax ballot measure would generate significant revenues for local governments through the Local Transportation Priorities Fund. If passed, the City is projected to receive more than $20 million in revenues over the next twenty years in addition to our current HUTF distributions. Ballot Measures 1. Proposition 110 (formerly referred to as Initiative 153), Transportation Funding, Let's Go Colorado Proposition 110 seeks to raise money for transportation projects with a .62% increase in the state's sales -and -use tax from 2.9% to 3.52% for a 20-year period commencing in 2019. The ballot measure provides for revenues to be allocated 45% to state projects, 40% to municipal and county projects, and 15% to multi-