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discussions on the house floor over various issues <br />that impact W-470 in one way or another. Many <br />transportation entities are trying bring a <br />package together that would make a serious attempt <br />to finance transportation in the entire Metro area <br />to include a beltway. "We are going to try to <br />continue to seek State resolution of the beltway <br />project as well as other transportation projects <br />with an adequate funding package at the State <br />level and try to deal with this project at least <br />at a regional level through the creation of a <br />Metropolitan transportation agency." The State <br />has tried to address a very critical part of the <br />entire beltway and does include W-470 and will <br />encourage the legislature to move forward as it is <br />a proper way to fund a lot of these projects. If <br />it does not pass, Mr. Ferdinandsen feels there are <br />still a number of options available stating that <br />this highway will pay for itself. There is still <br />a problem with generating enough money on the <br />front end of the project to cover the debt service <br />on the bond issue which could later be paid. <br />Mr. Ferdinandsen stated that they will begin <br />meeting with property owners along the proposed <br />corridor regarding contributions of right-of-way <br />as this project is clearly in their best interest <br />and may provide a base for W-470 to move forward <br />on the overall project. Also, the Highway <br />Commission clearly recognizes that this is an <br />important project as the problem won't go away and <br />sees the advantages of their participation in the <br />beltway. <br />Mr. Ferdinandsen complimented Council for doing <br />their part in bringing W-470 to the forefront. <br />"We have charted new territory for local <br />governments to find a way to build major highway <br />projects." The State legislators as a result see <br />the importance of these projects as being critical <br />to the future of the State of Colorado. The <br />cities direct involvement in the project allow the <br />State to see the importance of the development of <br />this project . <br />Sackett asked the impact of the election and the <br />results of polls taken since then. Mr. <br />Ferdinandsen responded by stating that the <br />Authority was criticized for its relationship to <br />private developers and that that concern must be <br />addressed. The issue of alignment certainly <br />through Rocky Flats must be tested further. The <br />Authority itself is trying to be responsive to <br />determine the perceptions of the election and what <br />things could have been done better and what the <br />3 <br />