Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Funding topic
No spam. Unsubscribe anytime.
Wheat Ridge council endorses placing 1% sales‑tax capital package on the ballot after finance staff presentation
Summary
After reviewing phased financing scenarios, council reached consensus to ask voters for a 1% sales-and-use tax (phased COP issuances) to fund a capital package that prioritizes the civic center, outdoor pool and school property purchases and creates ongoing capacity for street and bike/ped maintenance.
Wheat Ridge councilors voted by consensus at the Aug. 3 study session to move forward with ballot language for a 1% dedicated sales‑and‑use tax to finance a multi‑project capital package.
City staff and financial advisor Andrew from Piper Sandler presented phased financing options (30‑year Certificates of Participation issued in 2027, 2031 and 2036) and compared COPs with voter‑authorized sales‑tax revenue bonds. Under the highest‑capacity scenario (1.0% COP with phased issuances and assumed excess revenues used for pay‑as‑you‑go projects), the city could generate roughly $236 million of capital funding, enough to support near‑term, time‑sensitive projects estimated at about $127 million, staff said. "The largest being the COPs at a 1% sales and use tax that generates 236,000,000 of capital funding," Andrew told council.
Council members debated asking for the full 1% versus a lower figure (0.85%) given other jurisdictions’ ballot measures and the potential for cumulative tax rates. Several councilors said 1% yields materially more funding for projects and maintenance; others urged caution because adjacent jurisdictions may seek similar increases. After discussion council reached consensus to proceed with ballot language and a 1% proposal; staff were directed to return an ordinance and final ballot question language for the Aug. 10 meeting.
Staff and the consultant emphasized the phased approach both to increase total capacity over time and to use any excess revenue early as pay‑as‑you‑go funding for maintenance and bike/ped projects. The city did not take a binding vote but recorded consensus to place the 1% question on the ballot and advance ordinance drafting.
