Denver Issues $410 Million in First Tranche of Vibrant Bond Funds

Denver Issues $410 Million in First Tranche of Vibrant Bond Funds

Published on March 05, 2026

Denver- Today, the Denver Department of Finance (DOF) has completed the initial sale of Vibrant Denver Bonds, which was approved by voters in November 2025 and by City Council in February 2026. This first tranche of $410 million, which closed today, will allow the city to fulfill its promise to voters of getting started on all bond projects in 2026.

Approved by voters in 2025, the $950 million Vibrant Denver Bond Program is delivering 58 projects across Denver, including libraries, parks and recreation centers, cultural facilities, affordable housing, streets, bridges, and traffic/pedestrian/cycling safety improvements, a family health clinic and a children's advocacy center. The money raised through the bond tranche that closed today will go toward design costs, land acquisition where necessary, and some construction costs.

See the full list of projects here

"In approving this bond program, voters entrusted the city to deliver critical investments across Denver that will create safer streets, stronger neighborhoods and more vibrant public spaces," said Mayor Mike Johnston. "This milestone reaffirms our commitment to voters that all bond projects will start in 2026, whether that be initial planning, public engagement, design or construction, and that we are on track to complete all projects within six years."

Denver's strong financial management was recognized by the three primary bond rating agencies in February, and its AAA/Aaa/AAA General Obligation bond ratings were reaffirmed. The city was able to secure a competitive and favorable average interest rate of only 4.28%, well under the maximum authorized rate of 5.5% and 6.25% for its Series 2026A&B bonds, respectively, keeping costs low for taxpayers and maximizing the long-term affordability of this bond program.

First Issuance Funding Breakdown:

A complete breakdown of projects by issuance funding amount and funded phases/activities can be found here.

Future bond sales over the next several years will provide the remaining $540 million in funds, up to the $950 million total approved by voters. The future bond sales will be timed with the funding needs for the projects over the next six years. The full bond program is scheduled to be complete in 2031.

What's next?

In the coming weeks, the city will launch an online dashboard where Denverites can track the status of all Vibrant Denver bond projects. Users will be able to access schedule and cost information, project descriptions, and more. As the program develops, the city will also share opportunities for communities to provide input and feedback on specific projects.

How to stay involved

About Denver GO Bonds

General obligation (GO) bonds are a long-term debt instrument issued by state or local governments to fund public capital improvement projects such as roads, bridges, bikeways, public facilities and parks. This includes restoring, replacing and expanding existing capital assets. Local GO bond programs are authorized by Denver voters every 4-10 years and repaid through property taxes. Denver's previous bond programs include Elevate Denver, a 10-year, $937 million general obligation bond program approved by voters in 2017, and RISE Denver, a five-year, $260 million general obligation bond program approved by voters in 2021. For more information, visit denvergov.org/gobonds.

About the Denver Department of Finance

Committed to being the best financially managed city and county in the nation, the Department of Finance (DOF) unifies the financial and accounting functions of the City and County of Denver and provides residents easy access to key financial data through Transparent Denver. DOF is divided into the Office of the CFO and seven divisions, including the Assessor's Office, Controller's Office, Budget and Management Office, Capital Management and Financing, Real Estate, Risk Management and Worker's Compensation, and Treasury. For more information, visit Denvergov.org/finance.

###

• Finance