Staff calculated the.65 percent Keep Greeley Moving tax passed by the voters in 2015 would generate $9.4 million in 2016. This, combined with $2.6 million from Food Tax revenue provide roughly $12 million annually for street projects.
In fact, Greeley’s economy outperformed expectations, thus the 2016 revenue will be higher than $9.4 million when the final report is released next month. This means that due to TABOR regulations, the City must ask voters if it can retain the additional revenue to complete the list of projects and possibly fund additional road and concrete projects.
In a memo for Tuesday’s study session, Public Works Director Joel Hemesath noted that it will cost $23.6 million for a complete asphalt overlay for 36 miles of roads in need of maintenance. He also said 45 additional miles on streets are on the verge of needing overlay work at a cost of $28.8 million. Hemesath said he’s optimistic the Keep Greeley Moving revenue will help his staff maintain 60 miles of roadway each year.