FOR IMMEDIATE RELEASE
Town of Telluride Discusses Funding Strategies for Capital Improvement Projects
Funding needed for projects including Wastewater Treatment Plant expansion and upgrades, street infrastructure and building improvements
(May 15, 2023) – Telluride, CO --- The Town of Telluride, Hilltop Securities, the Town’s municipal financial advisors, and Butler-Snow, the Town’s bond counsel, discussed a range of options for funding deferred capital improvement projects in the future during the Tuesday, May 18 regular meeting of the Telluride Town Council. Critical upcoming Town projects include expansion of and state-mandated updates to the Water and Wastewater Treatment Plant, along with various water and street infrastructure and building improvements expected to require additional funding over the next five to ten years.
As previous Town Councils and administrations have directed significant funding toward various community priorities over the past decade, budgets for critical infrastructure upgrades and facilities have not kept pace. The discussion was initiated to address one of the 2023 Town Council goals and objectives to develop a comprehensive funding strategy for three (3) municipal buildings, Virginia Placer 2, the Wastewater Treatment Plant, Gondola, Pacific Avenue, and the Mahoney Bridge.
Hilltop Securities presented a variety of funding options available to local governments to help bridge the funding gap including general obligation (GO) bonds, general government revenue bonds (sales tax revenue bonds, general fund/limited tax bonds, excise tax revenue bonds), enterprise/utility revenue bonds (water/wastewater revenue bonds, electric/power revenue bonds), or certificates of participation (COPs).
“This work session allowed staff and Council to better understand the options available so we can develop an educated strategy to fund critical future infrastructure projects over the next five to ten years,” said Town Manager Scott Robson. “We’re taking into account all possible options, including a mix of revenue bonds, GO bonds and COPs, to fund critical projects like our urgent Wastewater Treatment Plant expansion and upgrades.”
The Town is currently considering all options including some that do not require voter approval or adjustments to current tax rates. The Town has also engaged with Magellan Strategies, a public opinion survey firm, should the Town discuss elector-facing ballot measures for consideration. The Town plans to present and discuss the funding approach in advance of the fall election cycle including any elector-facing ballot measures for consideration.
In the coming weeks, Town of Telluride staff will analyze all capital improvement projects to prioritize funding needs and further inform capital improvement strategies. For any questions surrounding the Town’s capital improvement plans, please email info@telluride-co.gov.
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Communications Manager
Lindsey Mills
Cell: (303) 319-6448
Email: lmills@telluride-co.gov
ABOUT TELLURIDE
A former Victorian mining town in southwest Colorado’s San Juan Mountains, Telluride was incorporated in 1977 as a home-rule municipality. Set in a box canyon amid forested peaks at the base of the popular Telluride ski-and-golf resort, the town’s historic district houses landmarks like the Sheridan Opera House, a performing-arts venue originally built in 1913, and the Telluride Historical Museum, which showcases local history in a converted hospital built in 1896. For more information, please visit us online at telluride-co.gov.