"We want your input. We want your opinion on what the most important improvements are you'd like to see in your neighborhood," Johnston said. "For us, this is a fun chance to dream what the next thirty years will look like for Denver."
Johnston announced his plan for Vibrant Denver general obligation bonds during a press conference at the Carla Madison Recreation Center on Wednesday, February 12. A public outreach process is underway with online surveys asking residents to suggest improvements for their Denver neighborhoods.
"This will build the public spaces, like this one we're in right now, the Carla Madison Rec Center. It is the parks, the rec centers, the safety facilities, the libraries that make the city vibrant," Johnston said. "You think of all the moments of joy that I've had with my kids at parks in the city, or how many times a teacher may get to read in the Denver Public Library."
The survey asks residents "how important" are parks, arts venues, recreation centers, street safety, housing options, public safety and climate resiliency on a scale of "high importance" to "not important." It leaves space for residents to suggest how they would "improve or enhance" their neighborhoods, and it provides a map to pin down where they would like to see a bond project.
Johnston said he'll be hosting community meetings in every neighborhood during the next three to four months to ask residents questions similar to those in the survey, including "where you think we should rank those given investments" in capital improvements; residents will also be able to participate in committees to help prioritize suggested projects.
The list of capital improvement projects suggested by residents will have to be approved by Denver City Council in the summer before heading to the ballot for voters to approve in November, Johnston added.
The mayor expects any capital improvement project selected for Vibrant Denver bonds funding to be complete within a six-year time frame. The amount of money that the city hopes to raise with the Vibrant Denver bonds "will be driven by the feedback we get from the community," he said.
According to Johnston, the city spends about $300 million a year maintaining or improving its property through capital investments, and it has the ability to borrow up to $1 billion with bonds. Every ten years, the city reviews what capital improvements are needed and issues bonds to fund these improvement projects. The city currently has a list of more than 150 capital improvement projects that would cost about $7 billion to complete.
The mayor expects any capital improvement project selected for Vibrant Denver bonds funding to be complete within a six-year time frame. The amount of money that the city hopes to raise with the Vibrant Denver bonds "will be driven by the feedback we get from the community," he said.
According to Johnston, the city spends about $300 million a year maintaining or improving its property through capital investments, and it has the ability to borrow up to $1 billion with bonds. Every ten years, the city reviews what capital improvements are needed and issues bonds to fund these improvement projects. The city currently has a list of more than 150 capital improvement projects that would cost about $7 billion to complete.
Johnston emphasized that no new taxes would be used to fund its Vibrant Denver improvement projects — although bonds can end up increasing property taxes in the future. Bonds raise money when they're sold to investors, and the city pays those investors back with interest using property tax revenue, explained Denver Department of Finance spokesperson Laura Swartz. The City of Denver has a triple-A credit rating, she added, which means it's considered unlikely to default and pays lower interest rates to people who buy their bonds.
"It's the best credit rating you can have as a city," she added. "So we get really, really good interest rates when we sell our bonds."
Denver voters have approved similar bonds in recent years. In 2021, they approved the $260 million RISE Denver bond to create jobs 4,200 jobs in Denver. In 2017, they approved the $937 million Elevate Denver bond to improve critical infrastructure like roads and sidewalks.
Last year, Johnston lobbied residents to vote in favor of his Affordable Denver plan, which would have used a half-cent sales tax to fund low-cost rental units across the city, but voters narrowly rejected it.
The Affordable Denver plan was part of Johnston's 2024 citywide goals. The Vibrant Denver bonds are part of his 2025 goals, which he revealed on January 29. Johnston introduced the Vibrant Denver bonds as a way "to drive strategic investments across Denver’s neighborhoods."
How would Johnston fill out the survey? "I probably have the longest list of all," the mayor said, adding that trying to prioritize one project would be like "trying to pick a favorite child."
