Presentation on theme: "Colorado Transportation Finance and Implementation Panel Overview Fort Morgan,Colorado September 13, 2007."— Presentation transcript:
Colorado Transportation Finance and Implementation Panel Overview Fort Morgan,Colorado September 13, 2007
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
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 02-1310 Colorado is facing a crisis but not unlike other states and at Federal level
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
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.
Broad Perspectives Represented Panel - 32 members Technical Advisory Committee – 20 members 7 Regional Meetings Major Organizations Recommendations by November 2007
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
Funding Options: General Tax Income tax Severance tax Sales tax General Sales on fuel Sales on vehicle repairs Visitor tax Delivery tax
Evaluation Scenarios Annual Thresholds $340 million - maintenance $500 million $1.5 billion $2.6 billion $3.6 billion
Evaluation Scenarios Funding Strategies Short and long term mechanisms Legislative options Voter Approval Local options and distributions Transit allocations
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
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
Timing Half-way point Recommendations by November 2007 2008 Legislative Session ballot 2009 Legislative Session ballot
Track the Progress www.colorado.gov/ governor Look for Blue Ribbon Transportation Panel
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