Title
RESOLUTION APPROVING NORTH METRO RAIL LINE LOCAL AGENCY CONTRIBUTION INTERGOVERNMENTAL AGREEMENT BY AND BETWEEN THE CITY OF COMMERCE CITY AND THE REGIONAL TRANSPORTATION DISTRICT
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Summary and Background Information:
FasTracks Project History discussed previously in the 10-28-13 study session
The following is a short history of the FasTracks project since the original vote was
passed in 2004.
• 2004 -Voters endorsed a Regional transit project to build a comprehensive transit
project over 10 years including:
o 7 new transit lines
o 119 miles of new track
o Cost of $4.2 billion dollars
o Funded by a 0.4% sales tax (4 cents on every $10)
• North Metro line to serve Commerce City and the NE quadrant of the region.
Proposed stations near Commerce City
o 72nd Avenue and Colorado Blvd.
As a part of the FasTracks program, the local jurisdictions along the North Metro corridor are required to contribute a 2.5% local match. This local match is required of the five jurisdictions along the North Metro line, which includes Adams County, Thornton, Commerce City, Denver, and Northglenn. Collectively, the local jurisdictions are responsible for approximately $22.725 million in a local match. A Memorandum of Understanding (MOU) was executed in February of 2012 that identifies the total contribution amount for Commerce City. In the MOU, it outlines a $4.7 million local match requirement for Commerce City. At the time, the city contemplated a few different sources of funding for this local match. Specifically, the City would rebate sales and use tax collected, which was estimated to be $2.74 million. Further, the city could utilize $1.53 million in DRCOG TIP funds that were awarded to the city for improvements in the station area. As a result, the city would have to make up the balance of approximately $430,000 through the CIPP process.
At the time of the MOU, a funding gap of $2.4 million existed for the FasTrack program. At the time,...
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