Vail wants input on 3 transportation projects
June 10, 2013
VAIL — The town of Vail is moving forward with three applications eligible for state transportation funding that could amount to roughly $29 million in state funds.
The Colorado Department of Transportation's Responsible Acceleration of Maintenance and Partnerships, or RAMP, funding is a new way of business for the department. Rather than saving for the full amount of a project, the department is funding multi-year projects based on the year of the expenditure. What it means is CDOT wants to expedite transportation projects and will do so through partnerships.
Should the town of Vail receive the funding, it would have to put up roughly $11.5 million — $6 million of which would go toward the Simba Run Underpass and would be available in Tax Increment Financing funds, $5 million of which would go toward Frontage Road improvements already in the Vail budget through 2015, and the remaining amount would go to an East Vail water quality project, also already budgeted.
As the town continues the application process for the state funds, it will also host a public meeting June 18 to gather feedback from citizens. There will be a detailed presentation about the Simba Run Underpass at that meeting, as well as information regarding the Tax Increment Financing funds that would help pay for the project.