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Forecasted Sales/Use Tax
Percent Contribution by Existing Partner
(including four-tenths increase)
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In November of 2008, voters in RFTA's eight member jurisdictions approved a sales/use tax increase of 0.4% and $44.55 million in bonding authority to support implementation of RFTA's VelociRFTA BRT project and to fund other non-BRT related capital projects. Prior to the election, a forecast was made of the RFTA sales/use tax revenue that was anticipated to be available in 2009 if the sales/use tax was approved by voters in 2008 (see chart below). However due to the recession actual sales/use tax revenue collected in 2009 is estimated to be approximately 25% less than the amount forecasted prior to the election.
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In 2009, RFTA issued $27.5 million in bonds and has its local funding available to match the $25 million Very Small Starts grant for which it has applied. Assuming the federal funding for the BRT project is received, RFTA believes it can implement the capital element of the BRT project. Additionally, RFTA is working to develop an efficient operating plan for BRT and existing RFTA services that can fit within the amount of revenue available when BRT service is implemented in either 2012 or 2013.
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2009
Allocated Revenue |
Percent
of Total |
| Aspen |
$6,412,496 |
35.4% |
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Glenwood Springs |
4,479,002 |
24.8% |
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Pitkin County |
2,497,481 |
13.8% |
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Basalt |
1,195,358 |
6.6% |
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Carbondale |
1,269,236 |
7.0% |
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Snowmass Village |
1,502,938 |
8.3% |
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Eagle County |
484,950 |
2.7% |
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New Castle |
253,257 |
1.4% |
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Total |
$18,094,819 |
100.0% |
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VelociRFTA on YouTube
Please click here to view part one of RFTA's Public Workshops regarding our Bus Rapid Transit project. For the second installation of this workshop taping please click here.
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