USDOT Home | FHWA Home | Feedback

Skip to main content

How the IPD Office Does Business...

	About Us
	Organization
	Capacity Building
	Outreach/Awareness
	Research
	Technical Assistance

Feedback Forum

Opportunities and Challenges Series

Project Profiles

U.S. 36 Managed Lanes/Bus Rapid Transit Project: Segments 1 and 2


Location	Denver Metro Area, Colorado
Project Sponsor / Borrower	Colorado High Performance Transportation Enterprise
Program Areas
Fiscal Year Approved	Fiscal Year 2011
Mode	Highway / Managed Lanes; Bus Rapid Transit
Description	U.S. 36 is four-lane divided highway that connects the City of Boulder to Denver at its intersection with I-25. The highway currently experiences significant congestion and has been targeted for improvements by the Colorado Department of Transportation (CDOT) since the late 1990s. The U.S. 36 Managed Lane Project: Segments 1 and 2 is an initial phase of approximately $1.3 billion of identified improvements along the 18 miles of roadway between the two cities. This $307 million first phase is being procured as a design-build contract and will include the following components: One managed (HOT) lane in each direction from Pecos Street to the Interlocken Loop interchange (approximately 10 miles) and reconstruction of the general purpose lanes Construction of retaining walls and sound walls Replacement of the Wadsworth Parkway, Wadsworth Boulevard, and Lowell Boulevard bridges Reconstruction of portions of the Wadsworth Parkway interchange BRT accommodations at stations located on ramps and adjacent park-n-rides, and bus bypass ramps at several interchanges (new and more frequent bus service will be provided) Bikeway, where feasible ITS equipment including for tolling, transit information, and incident management Provision for Transportation Demand Management strategies The Project is being developed by the High Performance Transportation Enterprise (HPTE) in partnership with the Colorado Department of Transportation (CDOT) and the Regional Transportation District (RTD). This phase of the Project is expected to be open to traffic by July 2015. A future Segment 3 would extend the reconstruction and addition of HOT lanes to Table Mesa Drive in Boulder. Other components to be implemented at a later date include the repair or replacement of 11 additional bridges and the addition of auxiliary lanes between interchanges.
Cost	Est. Total Cost: $307 million (First Phase)
Funding Sources	TIFIA loan - $54.0 million CDOT federal/state grant - $38.0 million CDOT Bridge Enterprise funds - $46.0 million Regional federal funds (Denver Region Council of Governments) - $44.0 million RTD sales tax revenue - $120.0 million TIGER Grant* - $4.8 million *Net of TIFIA subsidy and costs
Project Delivery / Contract Method	Design-Build
Project Partners	To be determined – expected contract award March 2012
Project Advisors / Consultants	Jacobs Engineering Group - Engineering Advisor The PFM Group and Acacia Financial Group - Financial Advisors KPMG - P3 Advisor Wilbur Smith Associates - Traffic & Revenue Consultant Kutak Rock, LLP - Bond Counsel Ballard Spahr, LLP - HPTE's Special TIFIA Counsel J.P. Morgan - Underwriter To USDOT TIFIA JPO: TIFIA Legal Advisor - Hawkins Delafield & Wood, LLP TIFIA Financial Advisor - Infrastructure Management Group, Inc.
Lenders	USDOT - TIFIA
Duration / Status	Design-build shortlist July 2011, contract award expected March 2012. Expected opening July 2015
TIFIA Credit Assistance	Direct Loan: $54.0 million The TIFIA loan, which initially will be the only Project debt, will be issued within a Master Trust Indenture. The TIFIA Loan Agreement and the Master Trust Indenture provide certain credit protections to mitigate project risk, including reserves, additional bonds test, and a rate covenant. The security for the TIFIA loan will be a gross pledge of toll revenues collected on the U.S. 36 managed lanes. The Borrower has covenanted to maintain tolls to produce debt service coverage on all senior and TIFIA debt of 1.30x and debt service coverage on any future senior lien debt of 1.40x. Prior to substantial completion the Borrower will establish a TIFIA debt service reserve equal to maximum annual debt service over the next five year period. The TIFIA loan has been rated "BBB-" by Fitch Ratings.
Financial Status / Financial Performance	TIFIA credit agreement executed on September 1, 2011
Innovations	Addition of the HOT lanes will connect to the existing I-25 Express lanes that extend from U.S. 36 to downtown Denver and add to a network of regional tollways Project combines several multimodal and ITS-based strategies to alleviate congestion along the corridor: managed (HOT) lanes, BRT, provision for a commuter bikeway, and various ITS and TDM strategies
Related Links / Articles	Project Website U.S. 36 EIS
Contacts	John Schwab, P.E. US 36 Managed Lanes, Project Director CDOT Region 6, North Engineering Section 2000 South Holly Street Denver, CO 80222 john.schwab@dot.state.co.us

¹ Of this total, $454.3 represents TIFIA Eligible Project Costs.
² Railroad Rehabilitation & Improvement Financing