Affordability: Capital Costs
This year we celebrate the 50th Anniversary of the Aspen Idea and the 250th Anniversary of the birth of the great poet, philosopher, and scientist Goethe. Over the past half-century, upper valley residents have consistently made forward-thinking choices regarding environmental protection, historic preservation, employee housing, growth management, support for the arts and sciences, and creating world-class recreational opportunities. The result is a great community with a high quality of life for residents and visitors.
That same forward-thinking has gone into planning the Entrance to Aspen. In 1996, Aspen voters ended 25 years of political gridlock by approving the use of a two lane parkway and light rail across the Marolt/Thomas property. The new Entrance will reduce total auto travel time from Buttermilk to Aspen by 34%, provide a world-class transit system for locals, commuters, and visitors, and improve Main Street for pedestrians, residents, and business owners.
We often hear locals say, "Light rail would be a great choice, but how could we pay for it?" Please read on for the answer!

How can we pay for the Entrance to Aspen?
Light rail capital costs -- what it costs to purchase right of way, build the tracks and rebuild streets, build maintenance facilities, and purchase rail vehicles -- will be funded with existing local tax revenues. The parkway capital and operating costs will be funded by state and federal grants.

We can build it without new taxes.
Local officials have already begun reserving revenues as a "down payment" for the system. Financing, serviced by existing annual revenues, would be issued to cover the remaining capital costs. The existing 1/2 Cent Pitkin Transit Sales, Use Tax and Aspen's parking and general fund revenues will provide the revenue needed to service the financing. In 1994, county voters enacted a 1/2 cent sales tax to fund a "fixed-guideway" transit system for the upper valley.

Three Step Funding Program

A Main Street that works for you
One exciting aspect of the Entrance to Aspen is the opportunity to transform our Main Street from a state highway into a community boulevard. Work on Main Street will be a mess, but that mess will serve a good purpose. Regardless of the transit alternative, Main Street must be reconstructed in the near future. The City plans to make sidewalk, crosswalk, and treescape improvements which will enhance the use of the street by locals, visitors, children, and motorists. When the dust settles, Main Street will be a civic amenity with reduced noise and air pollution, new public gathering places, and safe walkways.

Voters will decide
Pitkin county voters will be asked to approve the use of the 1/2 cent transit tax funds for light rail capital costs. City voters will be asked to approve the use of City parking and general fund revenues to fund light rail. Light rail will not be built without voter approval.

Valley Transit Study
The Roaring Fork Railroad Holding Authority (RFRHA) owns the rail right-of-way from Woody Creek to Glenwood Springs. RFRHA is currently studying transit service options to connect the Entrance to Aspen with every community in the valley. The study is analyzing costs and benefits of valleywide rail versus an improved RFTA bus system with express buses on highway 82. Local funding for the Entrance to Aspen will be used as a match for federal funds which will pay for the construction costs from the Aspen Airport to Glenwood Springs. Last year, congress authorized federal funding for this purpose. For more information regarding the study, call RFRHA at 704-9282.

We know what it will cost to build
Light rail and parkway capital costs were developed for the Entrance to Aspen Environmental Impact Statement. Further engineering has confirmed the estimated capital cost of light rail from Rubey Park to the Airport at $57 million in 1997 dollars. The $57 million cost figure has been studied and verified by five different engineering firms hired by the City of Aspen, Elected Officials Transportation Committee, Pitkin County, Aspen Valley Improvement Association, and CDOT. After adjusting for inflation, the $57 million in 1997 dollars will equal $65 million in 2001 dollars. Construction could begin in 2001.Capital costs from the Airport to Brush Creek Road are estimated to be $13.5 million. The valley rail study will confirm that estimate. Capital costs from the Airport to Brush Creek Road are eligible for funding through a federal grant authorized last year.