2015 Annual Program Evaluation (APE) Status Update July 14, 2015

2 Presentation Overview APE Purpose and Process FasTracks Program Status FasTracks Program Cost Changes for 2015 APE Summary Next Steps

3 APE Purpose and Process Comprehensive annual evaluation process for the FasTracks program Update project capital and operating cost estimates to current baseline Update revenue estimates to current forecasts Update overall financial plan to current conditions Focus on projects in current time horizon – through 2019

4 Fastracks Progress Current committed program capital cost through 2019 (year of expenditure dollars): $5.6B

5 FasTracks Program Status Projects Completed to Date West Rail Line US 36 BRT Phase 1 –Church Ranch Park-n-Ride –McCaslin Pedestrian Bridge –Broomfield Park-n-Ride and Pedestrian Bridge US 36 BRT Phase 2 –Table Mesa Pedestrian Bridge –US 36 Managed Lanes – to 88th Street

6 FasTracks Program Status Projects Completed to Date (continued) Denver Union Station –Light rail station, Amtrak, and bus concourse opened to passengers Free MetroRide Eagle Project –Commuter Rail Maintenance Facility LRT Maintenance Facility Expansion Miscellaneous projects

7 FasTracks Program Status Projects to be Completed by 2016 Eagle Project – 80% complete –East Corridor –Gold Line –Northwest Rail Electrified Segment –Commuter Rail Maintenance Facility US 36 BRT Phase 2 –US 36 Managed Lanes – 88th Street to Table Mesa –Queue Jumps –59 Buses for BRT Operations –Station Amenities and Security Upgrades I-225 Rail Line – construction 61% complete

8 FasTracks Program Status Projects to be Completed by 2019 North Metro Rail Line – to 124th Avenue – Construction started Southeast Rail Extension –Design-build contract submitted for July 2015 approval US 36 BRT Phase 2 Additional Improvements Longmont Station Miscellaneous projects

9 FasTracks Program Costs through 2019 (millions of dollars) ProjectSpent Through 2014Total Project Budget Denver Union Station $310.7$314.2 Eagle Project $1,623.1$2,286.7 West Corridor $676.8$678.2 North Metro $159.9$764.3 Northwest Rail $18.8$29.2 I-225 $340.3$692.6 Southwest Extension $23.2$24.5 Southeast Extension* $34.4$232.4 Central Extension $11.0$11.8 Light Rail Maintenance Facility $17.2 US 36 BRT $156.6$201.5 Free MetroRide $10.9$14.4 Misc. Projects $243.9$301.4 Total Program $3,626.9$5,568.5 *Additional $0.7M to be spent after 2019 on an FTA-required study.

10 Changes for 2015 APE Additional Project Costs – North Metro Additional hazardous materials costs –Additional engineering –Additional soil testing –Negotiations with adjacent property owners Property-related impacts –Detailed engineering –Freight shipper impacts –National Western Stock Show Funding required for O&M interface with Eagle –Detailed discussion and input from Denver Transit Partners –Equipment for additional North Metro vehicles in the Commuter Rail Maintenance Facility –Develop and integrate North Metro communications and control system –Provide more reliable performance for the corridor

11 Changes for 2015 APE Additional Project Costs (continued) Central Rail Extension updated planning and cost estimates Additional funds required for interface between I-225 and East Rail lines at Peoria Station Closeout work for West Rail Line Additional funds for staffing, marketing and new corridor education/promotion Federal funding feasibility analysis to identify best candidate project for future funding –Will not proceed unless at least one of the remaining projects meets the criteria for entry into the federal New Starts/Small Starts process

12 Changes for 2015 APE Projected Savings to Offset Costs Project Budget Savings –Denver Union Station –Railroad Compliance Contingency allocated funds not used –Free MetroRide –Miscellaneous Projects Light Rail Vehicles Wadsworth and Sheridan Parking Garages Programwide Capital Costs Contingency Funds Available –FasTracks Environmental Mitigation –FasTracks Railroad Compliance Contingency Balance to be drawn from FasTracks Management Reserve

13 FasTracks Cost Changes through 2019 (millions of dollars) ProjectCost IncreasesCost Savings North Metro$40.0 Central Rail Extension$0.9 Miscellaneous Projects$7.9$11.6 Denver Union Station$0.7 Railroad Compliance Contingency$7.5 Free MetroRide$2.5 Contingency Fund Draws$12.4 Total Program $48.8$34.7 Balance from FasTracks Management Reserve $14.1

14 RTD Cash Flow through 2040

15 Summary FasTracks financial plan is in balance No net increase in the FasTracks capital cost Limited opportunities for any additional near- term expansion on corridors unless additional revenue sources are identified RTD will continue to investigate every available opportunity to identify additional financial capability to fund projects

16 Next Steps July: Board Approval of Southeast Rail Extension –Design-Build contract –Intergovernmental agreements –Contracting authority August: Board Adoption –2015 Annual Program Evaluation –Contract authority increases for North Metro