ARVADA — Gross Reservoir is full, city coffers have a $6.5 million surplus from last year and large development projects continue in what is undoubtedly a boom period for Arvada, said Mayor Marc Williams at the annual State of the City address Friday morning.
With the water supply looking healthy “there will not be any water restrictions this year” Williams told roughly 250 people gathered at the Arvada Center. Thanks to Arvada voters “de-TABORing” a few years ago, the surplus cash will be used for economic development initiatives and infrastructure projects.
In fact, Arvada is only one of five cities in Colorado with a AAA bond rating, Williams added. Meanwhile, the 2014 sales tax revenue increased $7.5 million over 2013 while the unemployment rate was 3.7 percent.
“From a financial perspective, I think you can see the city of Arvada is doing quite well,” he said at the event hosted by the Arvada Chamber of Commerce. “In fact, our bond rating is better than the federal government’s.”
During the 45-minute speech, Williams broke news, including: “I wish to announce this morning that I will be running for re-election this November.”
Plenty of references were made to what many say is a once-in-a-generation opportunity for the city: The 2016 arrival of the Gold Line commuter rail
The Arvada campus of . Williams broke the news that council recently asked city staff to find a way to invest $1 million into the $20 million project.
It was also revealed that the second largest provider of breast milk in the country will soon be relocating from Denver to Arvada. The Rocky Mountain Children’s Health Foundation and their Mother’s Milk Bank are investing $1 million for the move.
“This is an example of one many of hundreds of new and expanded businesses we’ve had in Arvada, bringing new jobs into our urban centers and other targeted industries,” he added.
Austin Briggs: 303-954-1729, abriggs@denverpost.com or twitter.com/abriggs
