Discussion with CDOT on Proposed Denver Headquarters
COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE
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07:59 AM -- Discussion with CDOT on Proposed Denver Headquarters
Director Bhatt discussed CDOT's plans for a new headquarters building in the Denver area. In response to committee questions regarding the schedule and budget for the project, Director Bhatt discussed how CDOT is still selecting a preferred site for the new headquarters, its gross maximum price of $83 million, and the pending Transportation Commission approval. He also discussed the issuance of certificates of participation (COPs) to finance both the new Denver and Pueblo facilities, as well as an associated 20-year net present value savings of $6 million and the use of Highway User Tax Fund (HUTF) monies for the projects.
In response to a committee question regarding public outreach for transportation projects, Director Bhatt explained CDOT's commitment to improving its strategies for public outreach on specific projects. Committee discussion ensued on the public perception related to funding certain CDOT projects.
Director Bhatt responded to committee questions regarding the disposition of the current headquarters building in Denver, the impact of lower gas prices on HUTF revenue, and other ongoing transportation projects for I-25 north of Denver.
The committee adjourned.