by Erik Clarke
Denver voters approved the $937 million Elevate Denver Bond Program in 2017 to fund nearly 500 civic infrastructure projects across our city. Nearly a decade later, while many worthwhile improvements have been made, far too many projects remain unfinished, delayed, or over-budget. Now, city leaders are preparing to ask voters to approve another general obligation bond- the proposed “Vibrant Denver” bond package, which could target $800 million in new spending.
Before we issue another nearly-billion dollars in taxpayer-backed debt, Denver residents deserve accountability for how the last billion was spent.
Despite the size and complexity of the Elevate Denver bond program, and a smaller follow-up package, the Auditor’s Office has never conducted a dedicated performance audit of the program. That must change — immediately. We need an independent audit to assess which projects have been completed on time and on budget, which have fallen behind, and whether taxpayer dollars were spent effectively and efficiently. Denver residents deserve full transparency before we make another bond decision.
I am also deeply concerned by the possibility that this new Vibrant Denver bond might be used, either quietly or indirectly, to complete unfinished prior bond projects. If that is the case, the public has a right to know. No Vibrant Denver bond dollars should be used to backfill Elevate or Rise bond cost overruns unless it is explicitly stated, clearly labeled, and fully explained to voters prior to the bond being placed on the ballot. The City should also expand the existing bond dashboard to include a budget-to-actuals for each project, with supporting material, and an estimate of cost to complete.
As of June 2025, 13 projects are still being developed, but 105 projects have not even broken ground. Examples of projects that are not even in production, include transportation projects (62), parks improvements (34), and improvements to city-owned facilities. The unstarted projects even include public safety renovations, like improvements to police district 6 and fire station 40. There are roughly $171 million worth of projects in the in-design phase. This is a significant chunk this late in the game.
Bonds are essential tools for building city infrastructure. I’m far from being anti-bond. But bond projects require strong oversight and transparency. With global economic concerns, questions about public budgets, concerns about construction oversight, and more, the public needs to be able to trust that their taxpayer dollars are being safeguarded.
If Denver voters approve the Vibrant Denver bond, we need more, earlier oversight of these construction projects. That means that targeted project-based audits in the first few years of the bond cycle should be prioritized. If there are delays or cost-overruns early in the bond cycle, then folks should be aware of it. Oversight shouldn’t be an afterthought that comes near the end, once taxpayer dollars are already spent. Construction oversight should be a part of the foundation of good management.
If we want to make Denver a well-run, opportunity city, then we need to invest in Denver’s future. We also need to be sure that our investment is getting results. We need to do our due diligence prior to making voting decisions. The time is now for greater transparency and accountability. You, as taxpayers, deserve it.
Erik Clarke is an Executive Controller in the private sector and was in leadership roles at major accounting firms, specializing in internal audit and financial advisory. He has managed performance, construction, cybersecurity, and financial audits at nearly two dozen organizations.
