News Flash

County News

Posted on: June 19, 2020

A look at CCITF Funding

Economic Development Special District Funding-01

The state of Colorado established the Oil Shale Trust Fund to receive federal leasing bonus payments from oil shale that began in 1975. In 1982, the County Capital

Improvement Trust Fund, or CCITF, was established in order for Rio Blanco County to receive the funds directly from the state.

Rio Blanco County was among three other counties that received a one time payment along with Moffat, Mesa & Garfield. Rio Blanco County's portion was approxi-

mately $20 million. Rio Blanco County Commissioners established an informal process to try diligently to spend only the interest, thereby keeping the fund intact.

The fund has fluctuated a bit over the years with special projects such as broadband, but the balance has been rebuilt with severance tax & anvil points distribution.

Since its inception in the early 1980s, the county has been able to fund over $40 million in other taxing entities’ capital improvement projects while maintaining a

healthy fund balance, currently around $24 million.

Each year, the county's taxing entities may submit a request for funding to assist in capital improvement projects. This fund has helped to build & purchase hundreds

of projects over the years including school buses, senior transportation buses, ambulances & other emergency vehicles, heavy equipment, medical equipment,

recreation center improvements, playgrounds, school district projects & CNCC facility improvements such as drainage, plumbing, lighting, & other remodeling, commu-

nications equipment, water & countless street projects. The hope is that this fund will continue to help develop our communities for years to come.

The graph shows detail regarding where the money has been granted over the past 10 years, & since its inception in 1982.

Economic Development Special District Funding-01

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