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After more than two decades, there’s a finish line in sight for the Eagle Valley Trail

Eagle County commissioners approve a plan to finance up to $22 million to complete trail’s final 12 miles

A biker makes his way down the Eagle Valley Trail near Wolcott on a warm winter day. The trail is popular with walkers and bikers and this week the Eagle County Board of Commissioners approved a financing plan to fund contruction of the final 12 miles of the paved path.
Daily file photo

Construction of the Eagle Valley Trail — a paved recreation path that stretches from the top of Vail Pass to the mouth of Glenwood Canyon — has been a marathon endeavor in terms of timing and dollars.

And, like a marathon, the final mile is proving to be the hardest to tackle. Actually, it is the final 12 miles of the project that are particularly challenging. But on Tuesday, the Eagle County Board of Commissioners agreed to a financing plan that will provide between $20 million and $22 million to bridge the Eagle Valley Trail’s final 12 miles.

“We are finally at a place today where we can finally see the finish line,” said Eagle County Attorney Bryan Treu. “You will be the board of county commissioners that actually gets the Eagle Valley Trail completed.”



According to the Eagle County website, there are four remaining sections of the Eagle Valley Trail to be constructed — between EagleVail and Dowd Junction, between Dowd Junction and Minturn, between Duck Pond Open Space and Dotsero and Glenwood Canyon, and between Horn Ranch Open Space and Edwards. Once these four segments are completed, the trail will complete Eagle County’s section of a paved trail system that runs from Breckenridge to Aspen.

The road diet project currently underway in EagleVail is already tackling one of those segments. Slated for completion in September, U.S. Highway 6 through EagleVail into Avon is being condensed from five lanes to three lanes near mile markers 172 and 173 to create a new hard surface recreation path for pedestrians and bikers.

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Generating millions

It will take approximately $26 million to complete the unfinished portions of the Eagle Valley Trail and the county’s current funding stream only generates around $1 million annually for construction. But this week the county commissioners agreed to issue between $20 million and $22 million in certificates of participation — a lease/purchase option available to governments that does not require voter approval — to get the trail finished.

The remaining money will come from various funding sources, including a proposal to impose a trail impact fee on new development.

“We feel very confident that we can get $2 million to $3 million from (Great Outdoors Colorado/Colorado Lottery),” Treu added.

There will also be a local fundraising effort aimed at generating around $1.5 million to finish the Eagle Valley Trail.

Dick Cleveland, a former member of the Vail Town Council and a member of the ECO Eagle Valley Trails Committee for 25 years, knows first-hand about the challenges associated with finding the money to complete the 62.7-mile trail.

“I had sleepless nights wondering how it could ever happen,” Cleveland said.

But with the county financing up to $22 million, Cleveland predicted local residents will step up to donate to the effort.

“I am 100% convinced that $1.5 million to $2 million is absolutely attainable in the community,” Cleveland said.

Timing and credit rating

Treu noted the Eagle Valley Trail is more than a nice amenity. Many previous boards recognized it is an economic driver for the county, he said, so they did all they could to advance the project.

“But wanting to do it and getting there are two different things,” Treu said. Timing finally presented the financing option, he noted.

The county is taking advantage of historically low interest rates and its very strong credit rating. County officials met with representatives from Moody’s last week to determine Eagle County’s credit standing. Moody’s subsequently issued a AA1 rating for the county.

“That is very high,” Treu said. “The market was pretty impressed and we are expecting to get a good interest rate.”

The Eagle County Building and Eagle County Health and Human Services building in Eagle will serve as collateral for the certificates of participation. The certificates will be sold as early as next week.

As the commissioners approved the resolution clearing the way for the certificates of participation sale, the atmosphere at the county campus was downright giddy.

“I don’t have to tell you guys how cool this will be when it is complete,” Treu said.

Even with the funding commitment, trail construction will take a while. Early estimates figure it will take three to five years to complete the Eagle Valley Trail, but the notion of a path to that completion was heralded as a milestone.

“This is super exciting. I can’t wait to get started,” said Eagle County Trails Director Kevin Sharkey.


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