Boulder voters reject $400M bond but back higher debt limit
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Boulder voters are poised to reject a $400 million plan to renovate aging city buildings, even as they lean the other way on a companion measure to expand the city's borrowing capacity.
Why it matters: The rejection would force Boulder officials back to the drawing board to address hundreds of millions of dollars in needed repairs and upgrades to aging city facilities.
Driving the news: Ballot Issue 2K, which would've authorized the city to borrow up to $400 million, is trailing 44.16% (17,596) to 55.84% (13,914 votes) as of 1am Wednesday, according to the Boulder County Clerk and Recorder's Office.
- However, Ballot Question 2M, which increases how much the city can legally borrow, is passing 54.23% (15,352 votes) to 45.77% (12,959 votes).
How it works: While the two measures were marketed as a package deal and 2K would've needed 2M to pass, the debt limit increase didn't need the bond issue to pass to go into effect.
Between the lines: The results suggest voters were willing to give Boulder greater financial flexibility but didn't want to commit to any major new property tax or had concerns about how this money was earmarked.
Meanwhile: Boulder voters appear set to approve two other city measures, according to the clerk's office.
- 2J — Residential vacancy tax: Imposes an initial $4,000 annual tax on homes occupied for 183 days or fewer per year, with revenue supporting general city services. The tax would rise with inflation, up to a $7,000 annual cap.
- 2L — Firefighters' bargaining rights: Adds collective bargaining protections for full-time firefighters to the city charter.
Zoom out: Boulder County voters are passing a child care funding tax.
What's next: Boulder officials will have to reconsider how to pay for major infrastructure improvements, including whether to scale back projects or seek voter approval for a different funding package.