Denver council members on Monday night advanced a bond package worth $450 million, covering more than 80 projects, that voters would see on the November ballot should it survive one
Denver voters may soon choose whether to let the city take out a $400 million bond to fund numerous infrastructure projects as part of a long-term COVID-19 recovery plan.
The city announced the proposed general obligation (GO) bond in April and the Denver City Council is set to begin voting on the proposal later this month. If approved by council and the mayor, voters will see the bond on the ballot in November.
The proposed bond is one of Denverâs many COVID-19 relief efforts. The Department of Finance says there is still $375 million left from the cityâs last general obligation bond Elevate Denver which passed in 2017.
UpdatedTue, May 11, 2021 at 11:53 am MT
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The City and County of Denver is set to receive $308 million from the American Rescue Plan. (Amber Fisher/Patch)
DENVER, CO The U.S. Department of Treasury on Monday released a breakdown of what kind of financial help communities can expect from the $350 billion Coronavirus State and Local Fiscal Recovery Funds.
Denver is set to receive $308 million. The city was among 19 Colorado municipalities allocated financial support through the program.
The funds will help to restore Denver services, eliminate furloughs, support vaccination efforts and build financial recovery for Denver residents, the city said.
Subscribe The pandemic delivered a blow to our community worse than any experienced since the Great Depression, Mayor Michael Hancock said in a statement.
Denver just hit the jackpot with the federal government, which is sending $308 million in relief money to the city.which happens to also be a county, a major multiplier in the funding formula. These American Rescue Plan funds will help to deliver on a once-in-a-generation opportunity to shape a sustainable, equitable recovery for our city,” Mayor Michael Hancock says in a statement announcing the windfall. “We have a strong recovery plan, and thankfully we also now have a partner at the federal level willing to put resources toward building back in a way that is equitable and, with local efforts, more sustainable.”
How much will Colorado, local municipalities receive in the American Rescue Plan?
Dept. of Treasury released allocations, guidance on Monday
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Reflected in a puddle left from melted snow, pedestrians wear face masks while walking through Larimer Square late Tuesday, Jan.5, 2021, in Denver. (AP Photo/David Zalubowski)
and last updated 2021-05-11 16:33:44-04
DENVER â The U.S. Department of the Treasury released the allocations and spending guidelines for the $5.7 billion that will soon be headed to Colorado and its local governments as part of the American Rescue Plan.