Project Profiles

Location

Denver Metro Area, Colorado

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).

Program Areas

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 EXpressToll 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.

Cost

Total: $1.23 billion

• Phase 1: $115 million
• Phase 2/3: $663 million
• Phase 4: $453 million

Funding Sources

Revenue bonds (backed by toll receipts, vehicle registration fees, highway expansion fees on adjacent properties, lease revenues from cellular towers, easement permit fees)

P3 Applications

Design-Build (new Build Facility)

Project Delivery / Contract Method

Design-Build

Private Partner

• Design-builder Phase 4: MKK Constructors - Joint venture between Washington Group International, Inc. (formerly Morrison Knudsen) and Kiewit Western
• Project oversight engineer: O'Brien Kreitzberg Inc. (now URS)
• Design-builder Phases 2/3: Morrison Knudsen with Fluor Daniel, Inc.
• Operator: PB Alltech
• Interchange joint development partners: County and/or city jurisdictions and private developers

Project Advisors / Consultants

Piper Jaffray
Wilbur Smith & Associates
Morgan Stanley
JPMorgan
George K. Baum

Lenders

Bondholders

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 High-Performance Transportation Enterprise I-25 HOV/Express Lanes.

Related Links / Articles

EXpressToll.com

Contacts

Finance information:
Stan Koniz
Director of Finance
skoniz@e-470.com

Operational information:
Dave Kristick
Deputy Executive Director/Director of Operations
dkristick@e-470.com