Pitkin County voters will consider a $340 million bond question critical to the reconstruction projects at the Aspen/Pitkin County Airport.
Approving 1A would grant the county permission to issue enterprise revenue bonds with a maximum interest rate of 8.5%, or a maximum repayment of $940 million.
Despite the sticker shock, ballot question 1A would not mean any new taxes, but locals could end up paying in other ways.
Aspen Public Radio’s News Director Halle Zander spoke with reporter Josie Taris about the details of the bond question.
Halle Zander: Why does the airport need this money?
Josie Taris: The runway needs a full reconstruction because of underground water damage. The county expects the Federal Aviation Administration to pay about 90% of runway costs, but they also plan to build a whole new terminal, and the FAA won’t shoulder nearly as much of that project price. Altogether, the projects are estimated to cost $575 million.
And they want the terminal to be a “net-positive building,” meaning that it will produce more energy than it uses. (The county in August contracted the Portland-based firm ZGF Architects to lead the terminal design. Basalt firm Kimley Horn will lead runway design.) But the federal grant landscape for that kind of work is really uncertain right now, so these bonds would help fund design and construction.
County officials have said that they may not need the full $340 million, but they want wiggle room in case of economic volatility, given Trump’s tariff war and unreliable federal grants.
Zander: So it’s not a tax, but will voters still have to help the airport pay back this debt?
Taris: Yes. In the county’s budget, the airport is an enterprise fund. That means that revenue only comes from grants, user fees and charges, so airline passengers could maybe see bigger fees on their tickets.
But the airport does not get property tax revenue like most of the county budget, so this will not affect local property tax bills.
Instead, the county could pay off most of its debt with money it gets from (fixed base operator) Atlantic Aviation, which leases space at the airport.
According to the county, the airport had $39 million in total revenue in 2024.
But county commissioners will likely vote to raise things like airport parking and other fees to help pay back the debt.
Here’s county manager Jon Peacock talking about that at an August 27th county meeting:
“I think we need to bring those for vehicle parking in line with what market is, which is probably going to be close to doubling or tripling of those daily parking fees,” he said.
Right now, parking at the airport costs $6 or $12 daily.
Zander: Last year, county voters weighed in on two contentious airport ballot questions, and it was all stemming from these longstanding debates about the size of the runway. Is this question drawing a similar debate?
Taris: There isn’t organized opposition to this question, and no one even showed up for public comment at the August county meeting when the commissioners voted to put this question on the ballot.
Last year, meetings with airport agenda items lasted hours. But in the end, voters pretty resoundingly supported the county’s plans to move forward with building a new airport terminal and runway.
At that August county meeting, Commissioner Patti Clapper said she sees this as a continuation of last year’s vote.
“It's part of what the voters approved last year when they approved moving the airport forward,” she said. “And this is the only way we can do it is with funds.”
She’s also leading support for the ballot question in her personal capacity as part of an issue committee, “A Whole Lot of People Supporting 1A”.
There was an ad in yesterday’s issue of the Aspen Daily News urging voters not to support 1A, but the group “Concerned Citizens” has not filed paperwork as an issue committee with the Pitkin County Clerk’s office, so we’re not sure who they are.
Zander: What happens if it doesn’t pass?
Taris: Then the county would have to significantly scale back its renovation plans for the airport, which would mostly impact the terminal.
The FAA has made it clear that the runway has to come first before any funds go toward terminal reconstruction.
A 9-month airport closure is planned for 2027 for full runway reconstruction.
In the rest of the state, bonds for enterprise funds don’t need voter approval, per the Taxpayer’s Bill of Rights, since they don’t affect taxes.
But Pitkin County’s governing document (the Home Rule Charter) is more stringent than state law and requires voter approval.
