The Colorado Department of Transportation (CDOT) last week adopted a long-term plan for statewide highway systems that projects an $8.8 billion funding gap over the next 10 years and warns the state will not be able to maintain its current system conditions after that.
"CDOT only has enough money to maintain the infrastructure in its current condition for the next 10 years," the plan said. "During the next 10 years, the system will be maintained, but expansion projects will be very limited. With growing population and travel demand, this means CDOT will not be able to achieve all of its goals and objectives for mobility and addressing congestion."
The new plan forecast population growth and highway use in order to determine what project level is needed to transport people and goods. It projects $19.1 billion in transportation needs for the 2016-2025 period, with expected CDOT revenues of only $10.3 billion.
In the plan, CDOT says it will use innovative business practices and data-driven decisions to make the existing fund last while also investigating new revenue resources and partnerships.
"These are exciting but challenging times for transportation in our state,” CDOT committee chairman Ed Peterson said. “Increasing population and employment are putting greater demand on the existing statewide transportation system."
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