 |
 |
USDOT Home | FHWA Home | Feedback |
Location:
Denver Metro Area, Colorado
P3 Option: New Build Facilities - Design Build
Mode: Toll Highway
Description: E-470 is a toll highway that runs along the eastern perimeter of the Denver metropolitan area. The 47-mile beltway extends from State Highway C-470 at I-25 in Douglas County south of Denver, runs east and then north through Aurora, passes along the western edge of the Denver International Airport, and turns back towards the west, terminating at I-25 on the north end of the metropolitan area just south of 160th Avenue. The project was built in four separate phases, with construction on Phase 1 beginning in 1989 and ending with Phase 4 in 2003.
Phase 1: Opened June 1991 - 5.1 miles
Phase 2/3: Opened July 1998 - May 1999 - 29.3 miles
Phase 4: Opened January 2003 - 12.2 miles
Toll collection is fully cashless effective July 4, 2009 either by EXpresToll
transponders or through License Plate Toll
camera photography.
The E-470 Authority's
underlying $1.2 billion in bond debt is scheduled
to be paid off in approximately 2039. CDOT
has an option to take over E-470 in 2076 after the establishment of a
perpetual maintenance fund and all debt is defeased.
P3 Applications:
Design-build procurement
Privately held revenue bonds
Private operations
Accelerated joint interchange development
Private snow removal
Project Sponsor: E-470 Public Highway Authority
The E-470 Public Highway Authority consists
of eight member jurisdictions: Adams, Arapahoe, and Douglas counties and
the cities of Aurora, Brighton, Commerce City, Thornton, and the town
of Parker. Affiliate, non-voting members are the cities of Arvada, Broomfield
and Greeley, and Weld County. Ex-officio members are the Colorado Department
of Transportation (CDOT), Denver Regional Council of Governments (DRCOG)
and the Regional Transportation District (RTD).
Cost: $1.23 billion
Phase 1: $115 million
Phase 2/3: $663 million
Phase 4: $453 million
Type of Finance: Revenue bonds
Revenue Sources: Toll receipts, vehicle registration fees, highway expansion fees on adjacent properties, lease revenues from cellular towers, easement permit fees
Project Delivery / Contract Method: Design-Build
Private Partners:
Design-Builder Phase 4: MKK Constructors:
joint venture between Washington Group International, Inc. (formerly
Morrison Knudsen, now URS) and Kiewit Western
Project Oversight Engineer: O'Brien Kreitzberg
Inc. URS
Design-Builder Phases 2/3: Morrison Knudsen
with Fluor Daniel, Inc.
Private Operator: PB Alltech
Interchange joint development partners: county
and/or city jurisdictions and private developers
Project Advisors:
Piper Jaffray
Wilbur Smith & Associates
Morgan Stanley
JPMorgan
Investors: Bondholders
Physical Status: The project's final phase opened in 2003. A third lane was added along a portion of the southern segment (Phase 1) in November 2005. Nonstop (cashless) tolling is effective July 2009.
Financial Status: Closed
Innovations: Innovative mix of revenue sources.
E-470 and its private operations contractor
received a toll innovations award from IBTTA in 2000 for toll operations
as well as the 2006 IBTTA President's award.
The successful completion of the E-470 spurred
the creation of the 11-mile Northwest Parkway, which was completed in
late 2003.
E-470 provides back office support for both
the Northwest Parkway and the Colorado Tolling Enterprise (CDOT) HOV/Tolled
Express Lanes (HOV/HOT) on I-25.
Related Links / Articles:
E-470.com
EXpressToll.com
Contacts:
Finance information:
John D. McCuskey
Deputy Executive Director/Director of Finance
jmccuskey@e-470.com
Operational information:
Dave Kristick
Director of Operations
dkristick@e-470.com
E-470 Public Highway Authority
22470 E. 6th Parkway
Suite 100
Aurora, CO 80018
Tel. (303) 537-3470
