Basically...they have 100 days to get around $20 million. I’ll make a guess that they get somewhere around $12 million and the city has to call the governor to advance them the remaining funds in hopes of making the city look good for tourism. The $40 million? I’m guessing its a low-ball number and the city has serious issues by November with its budget.
This state is already facing fiscal difficulty. If Ritter gives money to Denver to help with Hickenlooper’s Folly, I bet folks are going to be steamed.
From a 3/17 article in the Denver Business Journal:
“Colorado received more bad news about the future of the local economy — this time the five-year forecast of state tax revenues by the Colorado Legislative Council.
The forecast shows that total expected revenue for the state decreased by 1.3 percent since the December forecast.
That means the state expects to collect $486.7 million less for the general fund and $207.1 million less for the cash fund between fiscal year 2007 and 2012 than it forecast late last year.
The revenue decrease eliminates the money available for many highway and construction projects, according to the forecast.”
http://www.bizjournals.com/denver/stories/2008/03/17/daily64.html
Folks are going to be really mad if tax dollars go to help pay for the riot-fest when we can’t even get our terrible roads fixed.