Earliest this summer, Governor Jared Polis signed the transportation funding bill, SB21-260, into law. The bill is expected to raise about $5.4 billion over the next ten years through a variety of new fees, state stimulus dollars and General Fund contributions. The Colorado Transportation Commission took several actions in the first meeting following the passage of the bill, including the approval of $238 million in transportation needs. The $238 million is upfront funding from SB21-260 that will fund repairs and improvements to critical transportation needs across the state.
“Colorado’s historic transportation legislation is shifting into high gear, with $238 million in funding going toward fixing our roads, helping our economy, and delivering needed improvements to our infrastructure,” said Governor Polis. “This new bipartisan law is beginning to take hold, improving transportation for every Coloradan while addressing the economic threat of climate change. I look forward to seeing and supporting the transformative work of our newly-appointed commissioners.”
I-70 Mountain Corridor projects that will receive part of this $238 million funding include:
- – Critical repairs to the I-70 Eisenhower Tunnel, including building repairs, improved ventilation, upgrades to the aging groundwater collection and treatment system and replacing the emergency generator system.
- – I-70 Bustang Pegasus/Floyd Hill to fund Park-n-Ride improvements along I-70 to support the launch of the new Pegasus transit shuttle system and I-70 Floyd Hill traffic mitigation efforts in connection with the I-70 Floyd Hill project.
- – Bustang fleet purchases
Other Mountain Corridor projects that SB21-260 is expected to fund include improvements at Floyd Hill, Dowd Canyon, Vail Pass, a westbound climbing lane from Bakerville to the Eisenhower Tunnel, an eastbound auxiliary lane from Frisco to Silverthorne, Frisco Exit 203 improvements, multiple transit centers, interchange improvements in Garfield County, and others.
Transcending its impacts on the Corridor, a large portion of the Bill is meant to be a major driver of investment and use of sustainable and alternative transportation. SB21-260 will raise $733 million for electric vehicle (EV) related progams, and create and implement three new enterprises.
- – Community Access Enterprise will receive $310 million to support installation of EV charging stations and create rebates for families to replace high-polluting cars with EVs
- – Clean Feet Enterprise will receive $289 million to support replacement of high-polluting trucks, school buses, and government/private-sector fleets with new lower-emitting EVs
- – Clean Transit Enterprise will receive $134 million to support the electrification of new, public transit buses
This is a massive Bill package for Colorado that addresses the state’s most acute needs, secures funding for the next decade, and makes major strides towards sustainability.