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Colorado Transportation Finance and Implementation Panel Overview Fort Morgan,Colorado September 13, 2007.

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Presentation on theme: "Colorado Transportation Finance and Implementation Panel Overview Fort Morgan,Colorado September 13, 2007."— Presentation transcript:

1 Colorado Transportation Finance and Implementation Panel Overview Fort Morgan,Colorado September 13, 2007

2 Transportation’s Quiet Crisis $65 billion funding shortfall identified in 2030 Statewide Transportation Plan $2.6 billion annual shortfall for CDOT $600 million annual shortfall for Locals and transit

3 Why a “Quiet Crisis”? The nature of transportation finance is changing fundamentally and on a large scale  State gas tax last increased in 1991, Federal 1993 The change has occurred gradually and without much public notice Burden is shifting to state and local governments  SB 97-1 and HB Colorado is facing a crisis but not unlike other states and at Federal level

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5 Panel Mission To bring together a broad range of stakeholders to identify long term sustainable transportation programs and funding options for a 21 st Century multimodal transportation system to support a vibrant economy and quality of life

6 Purpose of Panel in Addressing the Colorado Promise Evaluate current spending practices and identify cost- effective investment strategies that support a statewide transportation vision; Explore a variety of revenue streams that could support transportation and propose a strategy for increased investment and specific funding options; and Examine a prioritized list of projects and recommend a process to implement infrastructure needs that enhance the economic vitality of the state, sustain our environment and maintain our quality of life.

7 Broad Perspectives Represented Panel - 32 members Technical Advisory Committee – 20 members 7 Regional Meetings Major Organizations Recommendations by November 2007

8 Funding Options: User Fees Motor fuel tax Registration fees License fees Tolling New wheels on the road fee Weight distance tax Hazardous violations fines Ports-of-Entry fees Vehicle Miles Traveled (VMT) fee

9 Funding Options: General Tax Income tax Severance tax Sales tax  General  Sales on fuel  Sales on vehicle repairs Visitor tax Delivery tax

10 Evaluation Scenarios Annual Thresholds $340 million - maintenance $500 million $1.5 billion $2.6 billion $3.6 billion

11 Evaluation Scenarios Funding Strategies Short and long term mechanisms Legislative options Voter Approval Local options and distributions Transit allocations

12 Policy Discussion: Focus on Outcomes... Transportation’s Relationship to....  Economic Development  New energy economy  Land use  Tourism  Education  Affordable Housing  Other economic drivers Prioritization of State roadway system Sustainable transportation funding mechanisms Defining high performance transportation

13 Policy Discussion: Not outputs How to define Equity Ways to leverage investment Enhance state’s role in transit Environmental considerations Accountability and efficiency of the state

14 Timing Half-way point Recommendations by November  Legislative Session  ballot 2009  Legislative Session  ballot

15 Track the Progress governor Look for Blue Ribbon Transportation Panel


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