COLORADO SPRINGS — The weather is now warm enough for 2C paving projects to begin in Colorado Springs. This year COVID-19 is an added factor effecting the road improvement work.
2C is funded by a voter approved sales tax. Because of COVID-19 required closures and Stay at Home orders, sales tax is way down. "We're looking at approximately a $7 million hit to the 2C revenues," said Colorado Springs, Streets Division Manager, Corey Farkas.
It is a lot of money, but there is more to the situation. “We are not concerned at this point and time with finishing 2C,” said Farkas. There are no current plans to alter or downsize the goal of paving 225 lane miles in Colorado Springs. In fact, there could be some extra work if weather permits at the end of the season.
Tax revenue in the previous four years of 2C brought in more dollars than estimated. It adds $12 million to the projected $50 million dollar tax revenue for 2020. The holdover dollars offset the $7 million. "Rather than having $12 million to…get extra work done, we're going to be sitting at five or so million dollars," said Farkas. Barring, more extensive COVID-19 tax losses, the 2020 2C budget and plan are on track.
Other areas of the Colorado Springs city budget face cuts because of COVID-19 tax revenue losses. 2C dollars cannot be diverted to help. The voter approved 2C ballot question requires that the tax only fund paving projects.
