Arvada voters will be asked in November to authorize debt for the city in the amount of $79.8 million with a repayment cost of up to $125 million for the completion of two road projects within the …
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Arvada voters will be asked in November to authorize debt for the city in the amount of $79.8 million with a repayment cost of up to $125 million for the completion of two road projects within the city.
The Ralston Road project would focus on the completion of design from Wadsworth Bypass to Kipling Street, which includes widening traffic lanes and adding bike lanes. This project is estimated at $15.3 million with a three year timeline. It is a five segment project, and is partially completed with two sections remaining: Yukon to Carr and Carr to Garrison.
The Ralston Road project was the number one project listed by the Arvada Citizens’ Capital Improvement Committee in its final report to council in 2016.
The other road project focuses on 72nd Avenue and would complete the expansion and railroad grade separation from Kipling to Indiana. It is estimated at $97.5 million over more than five years and is split into four segments: Kipling to Oak; Oak to Simms; Simms to Ward; and Ward to Indiana. Each segments presents its own set of challenges, including right of way acquisitions.
Property owners will most significantly be affected along the Kipling to Oak segment, which would require full and partial property acquisitions in order to complete the project. City staff has met with those property owners.
Arvada City Council voted unanimously Aug. 27 to pose the question to voters to allow the city to seek a bond to finance the two projects.
“This is the least expensive way to do these projects,” said councilman John Marriott. “We really have two choices — to borrow money and do it all at once and pay the interest it costs to borrow money; or two would be to save up money to do it as we have enough money to do it. And the difference is the inflation in the cost of building roads is higher than the interest rate we would be paying.”
Marriott continued saying that he is usually very skeptical of borrowing money, but he believes this is the best way to go about complete the much needed road projects.
The bond reauthorization will not impose any new tax or increase any tax rate.
Councilman David Jones said the next step is for the community to continue the conversation.
“I’m hoping that over the next several months, collectively and a citizenry we can do our part to ensure that we help people understand why this is important,” Jones said.
This ballot issue adds to the growing list of asks from local and state-wide entities. But Arvada Mayor Marc Williams said, “there’s always going to be competing issues.” He reminded residents to vote their ballots from “the bottom up” focusing on the local issues that impact them the most.
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