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United States Department of Transportation United States Department of Transportation

C-470 Express Lanes

Map of location of C-470 Express Lanes Project
Alternate Project Name
C470 Express Lanes
Project Type
Roads and Bridges
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Colorado High Performance Transportation Enterprise (HPTE)
Project Description

The project is a 26-mile highway that runs along the southern and western part of the Denver metropolitan area, linking the intersection of I-25 and E-470 in the east, to the intersection of US-36 and I-70 in the west. The project is intended to deliver additional capacity along this congested corridor by adding express tolled lanes (ETLs) and improving road layout over approximately 11.2 miles of the highway. Proposed work includes:

  • Two westbound ETLs from I-25 to 0.9 miles east of the University Boulevard off-ramp (near Colorado Boulevard), transitioning into one ETL from that location to just east of Wadsworth Boulevard, for a total length of 11.2 miles
  • Westbound auxiliary lanes between ramps from University Boulevard to Platte Canyon Road/Chatfield Avenue and from Yosemite Street to Quebec Street
  • One eastbound ETL from Wadsworth to I-25/E-470.

HPTE expects the project to provide up to 18 minutes in travel time savings for a westbound trip from I-25 to Wadsworth during peak and evening commute times, once the facility opens and motorists have time to adjust to the new ETL option.

Project Details
TIFIA Assistance
$106.95M
Primary Revenue Pledge
Toll Revenues
Project Cost
$325.10M
Fiscal Year Closed
FY2017
Duration/Status
Construction commenced October 2016.  Substantial completion is expected in late 2019.
Funding Sources
Bond Proceeds: $157.4 million
TIFIA Loan: $106.95 million
RAMP Funding: $40.0 million
FASTER & other local funding: $12.0 million
HSIP funding: $6.3 million
Water quality funding: $2.4 million
Project Delivery/Contract Method
 Design-Build (DB)
Project Advisers/Consultants
 To Colorado HPTE:

Financial Advisor - Ernst & Young Infrastructure Advisors, LLC and FirstSouthwest
Legal Advisors - Nossaman LLP and Sherman & Howard, L.L.C.
To USDOT Build America Bureau:

Financial Advisor - Project Finance Advisory Ltd.
Legal Advisor - Skadden, Arps, Slate, Meagher & Flom LLP
Project Lender
USDOT TIFIA
Credit Assistance Detail
Direct loan: $106.95 million. The TIFIA loan will be repaid through a pledge of the project’s gross toll revenues.
Financial Status
The TIFIA Loan Agreement was executed on June 7, 2017, and is expected to mature in 2054.
Application Details
Applicant
Colorado High Performance Transportation Enterprise
LOI Fiscal Year Received
FY2015
LOI Received Date
Credit Agreement Executed
Initial Eligibility Review
Review complete
Creditworthiness Review
Review complete
Application Review
Review complete
Estimated Project Cost
$326.00M
TIFIA Request
$108.00M
Instrument Type
Direct Loan