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The Golden Transcript In your article detailing top stories of 2005, and under your ninth listed top story, the Golden Transcript takes the City of Golden to task for "exaggerating" the "minor impact" of the downgrading of the Northwest Quadrant bonds by Fitch to junk status. As a state representative on the House Transportation Committee, I can tell you right now that anytime bonding of an agency associated with the state is downgraded to junk status, it is hardly a "minor development." Should these bonds go belly up, who do you think will pay? Do you really think the bondholders will just take their losses and quietly fade away - or is it more likely that they will sue the state, seeking deep pockets for their losses? I believe it is neither ethical nor is it sound financial practice to build toll roads when the traffic is clearly not there. It is incumbent upon the state to refuse to subsidize such wild schemes...for example, the unethical and unprofitable proposed Northwest Beltway. Sincerely, State Representative Gwyn Green ----- I am disturbed that the Golden Transcript, in their year-end summary of stories, has concluded that a couple of items in the beltway stories are "minor" in nature. Actually, for the concerned citizens of this area, they are major developments. That the proposed bonds for the beltway were lowered in their ratings showed that CDOT does not know or accept that there is no need nor justification for this beltway. The second concern is that this publication does not believe that the withdrawal of the mediation firm is a major development. They could no longer justify working with CDOT in a less-than-open forum that was originally programmed to include all sources of public, private and governmental data to come to a mutual conclusion of need for the beltway. CDOT became more secretive, closed and biased with their reports, thus creating an ethical conflict for the mediation firm. Both of these items are major in nature for those of us trying to show the uninformed what CDOT is trying to shove into our neighborhoods and how they want to destroy the reasons we live where we do. ----- You've got to be kidding when you say "In other news, Golden officials tried to exaggerate the impact of minor developments, such as a lowered bond rating for an existing quadrant of the beltway, and the departure of a mediation firm from beltway discussions. Arvada officials were unimpressed on all counts, and they continue to fight for the highway." These were not "minor developments" as you suggest. The bonds now have "junk" status because of grossly overstated revenue projections despite the fact that the tollway is now one of the three most expensive drives in the lower 48. Lies and deceptions perpetrated by CDOT in the quest for more roads are beginning to be revealed. Further, the resignation of the mediation firm is a major slap in the face to the integrity of CDOT. Consulting firms are not in the habit of walking away from big contracts - they do so only when the credibility of the client endangers the reputation of the consultants. You should be asking why the firm would walk away from thousands of dollars in billings. This is very serious stuff. |
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The following organizations endorse CINQ’s position: Colorado Environmental Coalition, Jeffco League of Women Voters, Plan Jeffco, Friends of the Foothills, former Colorado Gov. Dick Lamm, Canyon Area Residents for the Environment (CARE), Blue Mountain Land & Homeowners Association, Apple Meadows Homeowners Association, Village at Mountain Ridge Homeowners Association, Meadow Run Homeowners Association, and Harmony Village Community Association. |