Pickett County Commissioners propose $340M airport bond for redevelopment ballot

The Pitkin County Board of County Commissioners (BOCC) convened on August 27, 2025, to discuss significant developments regarding the Aspen Pitkin County Airport. A key focus of the meeting was the proposal to place a ballot issue before voters in the upcoming November election, seeking authorization for up to $340 million in bonds to finance the airport's redevelopment.

County Manager John Peacock emphasized the importance of this initiative, noting that it is the only local government in Colorado required to seek voter approval for enterprise fund debt. The proposed bonds would not be repaid through local taxes but rather through revenues generated by the airport itself. This approach aims to maintain transparency and accountability in the funding process.

The redevelopment plan includes constructing a new terminal designed to be net positive in energy, along with improvements to parking, transit facilities, and the airfield. The total estimated cost of the entire project is approximately $575 million, with a significant portion expected to be covered by federal grants, traditionally at a rate of 90%. However, uncertainties in federal funding have led the county to adopt a conservative approach in its financial estimates.

Commissioners discussed the projected interest rates for the bonds, which are estimated to be as high as 8.5%, although the actual rate may be lower based on market conditions at the time of issuance. The conservative estimates are intended to prevent the need for additional voter approval during the project, which could lead to delays and increased costs.

The meeting also highlighted the necessity of educating the public about the bond proposal and its implications. Commissioners expressed the importance of community support, noting that a successful vote would not only facilitate the airport's redevelopment but also strengthen the county's position when seeking federal funding.

In conclusion, the BOCC's discussions underscored the critical nature of the upcoming ballot issue, which aims to secure funding for a project that is vital to the local economy and infrastructure. As the election approaches, county officials are committed to ensuring that residents understand the proposal and its potential benefits for the community.