Pot for Pot Holes: Denver’s paving projects will spend $27 million dollars. $1.2 million is from marijuana tax revenues.
Paving season is underway in Denver.
Denver Mayor Michael Hancock said Denver receives about $13 to 14 million a year in surplus marijuana tax revenue, from a special tax on marijuana.
Most of Denver’s marijuana revenue is used to regulate the industry and for law enforcement.
Some goes to education.
The surplus goes into the General Fund.
This year, some of that general fund money is being spent to repave 405 lane miles of asphalt.
Mayor Hancock told Denver7 that as other states approve marijuana for recreational use, Colorado’s and Denver’s share of tax revenue will likely decrease.
For that reason, the city won’t spend marijuana money on projects that need a steady revenue stream, but will instead spend it on one-time projects because “We cannot bank on those revenues being there year after year, with more and more states coming online,” he said.
The 2018 paving project is an example. Pot for Pot holes monies will help repave arterial and collector streets.
Denver Public Works spokeswoman Nancy Kuhn said this is the first time that Public Works has received marijuana revenue and can utilize pot for pot holes.
“With the extra money that we’re receiving in marijuana tax revenue this year, we’re going to be able to pave at least 50 more blocks this year.”
“The marijuana revenue is on top of the $4.5 million that we’re receiving from Measure 2-A that voters passed a few years ago,” she said. “Our funding levels are really optimum right now.”
Resource: Denver Channel
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