Latest news with #VibrantDenver
Axios
3 hours ago
- Business
- Axios
Where the big bucks go in Johnston's now $935M bond plan
Denver Mayor Mike Johnston's proposed bond package has ballooned to nearly a billion dollars as he works to sway skeptical city council members before a final vote next month. Why it matters: Johnston's "Vibrant Denver" bond measure would fund about 90 infrastructure projects — from bridges and bike lanes to parks, libraries and housing — without hiking taxes. But its sheer size and scope are raising eyebrows. Driving the news: Johnston's team added 15 council-requested projects after members threatened to block the package for failing to reflect neighborhood needs. The additions pushed the price tag up from roughly $800 million to $935 million. On Tuesday, a city council committee advanced the revised proposal to the full body, which will decide whether to refer the measure to voters on the November ballot. By the numbers: The current project list dedicates the bulk — $427.9 million (46%) — to transportation and mobility. The rest includes: $237.4M (25%) for city facilities $175.3M (19%) for parks and recreation $64.3M (7%) for housing and sheltering $30.1M (3%) for health and human services State of play: Some council members remain unsatisfied. They've signaled more changes ahead — and raised alarms about financial soundness, equitable distribution, transparency, and whether the city can realistically deliver. What they're saying: "$935 million … is an extraordinary amount," Council member Darrell Watson said at Tuesday's committee meeting. Council president Amanda Sandoval warned the city's shrinking staff may not have capacity to pull it off and noted that projects from Denver's 2017 bond are still incomplete. Threat level: Some worry a measure this large could strain the city's AAA bond rating and push Denver dangerously close to its borrowing ceiling — estimated between $1 billion and $1.2 billion — risking a tax hike.
Axios
21 hours ago
- Business
- Axios
Johnston's "dream" meets a $250M reckoning
Mayor Mike Johnston's second State of the City address Monday night brimmed with Mile High optimism — invoking the word "dream" a dozen times and pitching Denver as the "capital of the New West." Yes, but: What the mayor largely skipped in his 38-minute speech was the $250 million budget hole that's about to swallow City Hall — and potentially hundreds of jobs with it. He spent barely a minute on the deficit, pledging to "minimize impact" on city workers and core services while delivering a government that will "work better and cost less." The big picture: Two years into his first term, Johnston touted historic drops in street homelessness and violent crime, downtown revitalization efforts, and a newly overhauled building permitting process. Over the next two years, he's setting his sights on tackling long-term support services for unhoused residents, theft and public drug use, stagnant downtown office demand, and a housing market that's pricing teachers and nurses out. Reality check: How the mayor plans to accomplish his ambitious goals under such severe budget constraints and with staffing slashed is the elephant not just in the room — but squarely in his lap. Between the lines: Johnston also doubled down on plans to put an $800 million "Vibrant Denver" infrastructure bond on November's ballot — a tough sell in a city facing cuts. What's next: A formal budget-balancing plan is expected this fall, likely setting off tense negotiations in City Hall. Layoff announcements could start as soon as Aug. 2. The bottom line: Johnston is urging Denverites to rally around a common vision — but with a quarter-billion-dollar shortfall, it's hard to ignore the realities crowding out the hope.
CBS News
12-02-2025
- Business
- CBS News
Mayor Johnston announces plans for "Vibrant Denver" community development bond
Denver Mayor Mike Johnston and City Council President Amanda Sandoval announced a bond campaign Wednesday that aims to revitalize Denver's public spaces. The " Vibrant Denver" bond campaign's goal is to build parks, rec centers, libraries and other facilities that will enrich the community. Johnston said over 400 projects from the previous 2017 campaign have been launched, and the city is on schedule for completion. He said now is the time to begin the next set of city investments, and this time he wants an accelerated bond cycle. "We think we are going to focus on really shovel ready projects that can be transformational and catalytic for neighborhoods all across Denver, where we can get shovels in the ground quickly, get people to work, help stimulate jobs across the city, and also get these key investments up and rolling," said Johnston. Johnston asserted that the bond would not increase taxes for Denver residents and take only a portion of the city's bonding capacity. He explained that the city will pay off multiple bonds over the next few years, and the new borrowing capacity is available to issue new bonds. "I know this is a time where a lot of folks in Denver are struggling, where people are working hard to make ends meet, and we're trying to be wary of not increasing costs at a time when folks are trying to manage those costs. So it's very important to us and the council these are key investments we can make with the city's existing bonding capacity without increasing taxes," explained Johnston. Sandoval said these bonds have shaped important projects in the community such as the reconstruction of the 16th Street Mall, a new fire station in northeast Denver, the Westwood Recreation Center, and a playground in Inspiration Point Park. They both encouraged the public to take part in the planning process and share what their priorities are for each neighborhood. "I speak on behalf of my council members, we want to ensure it reflects the needs and aspirations of the people of Denver. This is your city. This is our city, and this is your chance to shape the future," said Sandoval. There are multiple ways to participate, including filling out an online survey, joining one of the multiple community meetings to take place, and signing up to participate in a committee in your area. Officials said starting in April, the community-led subcommittees will review the public's input and city recommendations to help create project lists. The project lists recommended by subcommittees will go to an executive committee for final review before the bond program package is put in front of voters in November.
