AASHTO Journal, 27 March 2015
The Colorado Department of Transportation adopted a long-term plan for statewide highway systems that projects an $8.8 billion funding gap over the next 10 years and says CDOT will not be able to maintain current system conditions after that decade.
Bhatt in CDOT video.The new plan, which forecasts population growth and highway use to determine what level of projects are needed to move people and goods, projects $19.1 billion in transportation needs for the 2016-2025 period, against anticipated CDOT revenues of $10.3 billion.
CDOT faces a significant funding challenge for the present and the future,” the plan says, as it describes the state’s lost purchasing power from a fuel charge revenue stream in recent decades.
“CDOT only has enough money to maintain the infrastructure in its current condition for the next 10 years,” it says. “During the next 10 years, the system will be maintained, but expansion projects will be very limited. With growing population and travel demand, this means CDOT will not be able to achieve all of its goals and objectives for mobility and addressing congestion.”
And after 2025, based on current projections, “CDOT will no longer have the money to maintain the system in its current condition, resulting in lower ability to address needed maintenance, increasing travel times, and decreasing traveler convenience with ripple effects on the economic vitality of the state.”
Ed Peterson, chairman of the state Transportation Commission, said in unveiling the plan: “These are exciting but challenging times for transportation in our state. Increasing population and employment are putting greater demand on the existing statewide transportation system.”
In the plan, CDOT says it “will employ innovative business practices, operational strategies, and data driven decision making to stretch existing funds while exploring new partnerships and revenue sources for the future.”
Added CDOT Executive Director Shailen Bhatt: “Like many other states, Colorado needs to explore funding options and finance mechanisms to stretch dollars further, replace declining gas tax revenues, and reduce dependency on uncertain federal funding.”
Peterson also tied the infrastructure investment plan to Colorado’s economic success. “Our transportation system is a key element of a vibrant and globalized state economy,” he said. “Transportation investments will create and enhance access to jobs, enhance freight movement, support increased trade, and improve economic competitiveness.”