(July 18) – Today, the Democratic members of the Capital Development Committee (CDC) sent a letter to Colorado Treasurer Walker Stapleton expressing serious concerns about his office’s delay in launching funding for capital construction needs under SB 17-267 and the impact that the delays would have on health and safety across the state.
At a meeting of the CDC last month, nonpartisan staff notified the committee that the Certificates of Participation (COPs) that will launch hundreds of millions of dollars in funding for capital construction and transportation would not to be issued at the start of the fiscal year as originally planned, but would be delayed until a date uncertain.
The letter highlights the impact of these delays on pressing needs around the state, including likely safety risks and significant escalation in costs to the taxpayers, and reiterates a call on Treasurer Stapleton to come before the CDC at the next meeting to respond to questions in person. The full committee had previously sent a letter requesting Treasurer Stapleton’s presence, but the committee agenda released yesterday showed that he did not plan to attend himself and would instead be represented by the Deputy Treasurer.
The letter reads in part:
“Needlessly delaying extremely urgent projects could put the physical and financial health and safety of Coloradans at risk; these critical projects have been prioritized and should be expedited. Furthermore, delays could unnecessarily waste tax dollars as interest rates rise and horizontal and vertical construction costs continue to escalate.”
“[…] the General Assembly and the Governor provided clear authority and direction to fund these vital projects and no injunction has been granted that would prevent the COPs from moving forward, so your office should not delay the issuance of funding based on ideology or this pending lawsuit any further.”
“We are very concerned about the delay and the impacts it will have on our communities and our state,” said Rep. Daneya Esgar, D-Pueblo, vice-chair of the CDC. “These projects are urgent, and delaying their funding will only result in significant wasted taxpayer dollars and critical health and safety needs going unaddressed.”
“This delay is not in the best interest of the state of Colorado,” said Rep. Chris Hansen, D-Denver, who also sits on the committee. “Treasurer Stapleton needs to do his job and get these projects moving as quickly as possible.”
The Capital Development Committee is scheduled to meet again on July 23, and the letter urged Stapleton once again to respond to several questions in person at that meeting.
The letter can be found HERE.