1. Public Private Partnerships & Innovative Finance Economic Development Council of Colorado, October 3, 2017

2. What Does CDOT Do?
FY $1.42 BILLION BUDGET

3. What Does HPTE Do? Exists to make Coloradans’ commutes better
Required to “aggressively pursue” innovative means of more efficiently financing important transportation projects:
-Public Private Partnerships
-Operating concession agreements
-User fee-based project financing (tolls)
-Annual performance payment agreements
Exists to make Coloradans’ commutes better

4. How Do We Compare?
PAVEMENT CONDITION
Source:
Highway Statistics
FHWA 2015
CO #32 CO
BRIDGE
CONDITION
Source:
National Bridge Inventory Data
USDOT FHWA 2015 UT
CO #18 CO
SYSTEM
RELIABILITY
Potholes and rough roads cause drivers as much as $300 per year in vehicle repair bills
48% of Colorado bridges need preventative maintenance and 5% are structurally deficient
Colorado’s population has grown 53% since 1990 while lane miles on our highways have only gone up 2%
Large
Cities
Denver
DEN #28/46
Colo. Springs
#14/33
Medium
Cities
Source:
Urban Mobility Scorecard TTI 2015
*All figures as of
June 22, 2016
Colorado has no funds for new capacity.
Colorado relies on 75% of construction $$ coming from the feds.

5. The Last Time Colorado Raised the Gas Tax
1991
Avalanche logo
Denver’s Stapleton airport 4 years away from closing
1991
Average Gas Price
$1.14/gal.
Terminator 2
released
$15,473
Average Price of a New Car
President
George H.W. Bush
$109,071
Metro Denver Median Home Price
Broncos logo
Dan Reeves was Broncos head coach with John Elway as Quarterback and Gary Kubiak as backup QB

6. Colorado Statewide Transportation Plan Needs & Gap Analysis
$1 billion annual shortfall
Here’s what the result is – we are underfunding our transportation system

7. Our Challenge Continued Growth
1991
2015
2040
3.3 million
5.4 million
7.8 million
27.7 billion
vehicles miles traveled
50.5 billion
vehicle miles traveled
72.3 billion
vehicle miles traveled
All dollar figures adjusted for inflation

8. CDOT Existing Budget: Focus on Maintaining the System
Significant Focus on Maintenance
Generally No New Funds for
New Capacity*
Here’s how we spend our funds. As you can see, the TC has made the decision that it is better to try and sustain our existing transportation system than neglect it in favor of new capacity. It’s the analogy of not building an addition on your house when the roof is leaking… 8

9. Public Private Partnerships

10. WHY use P3 to deliver a project?
Project Acceleration
Risk Allocation
Engineering Innovation
Life Cycle Costs/ Value For Money
Many types of P3
Toll/revenue risk
DBFOM
DBM
Revenue share?
Risks and Roles are transferred
Not designing a project, but establishing performance standards for design
Not engineering a project, but creating performance standards for engineering
Not plowing the highway, but creating performance standards for plowing

11. Delivered project 20 years early
All lanes benefit from more consistent, faster speeds & reduced travel times
Project is a national model
Multimodal success
Cost & Financing
-TIGER grant - $10M
-TIFIA loan - $54M
-CDOT – $92.7M
-DRCOG - $61.6M
-RTD - $124M
-Local - $16.6M
-Private $120M

12. TO THIS

13. Region-wide Express Lanes

14. MEXL– Winter Season Improvements
2014 Saturday Travel Times
2017 Saturday Travel Times
2014 Sunday Travel Times
2017 Sunday Travel Times

15. North I-25 Express Lanes Results: Comparing 2014 to 2016
2014 Southbound
2016 Southbound

16. Express Lanes Coming Soon
North I-25 from 120th Ave. to E-470/Northwest Parkway
Cost & Financing
CDOT - $76M
HPTE loan - $22M
Mobility Choices: similar to I-25 N from US36 to 120th Ave.
Tolling Structure: similar to I-25 N from US36 to 120th Ave.
North I-25 from Johnstown to Fort Collins
Estimated Cost & Financing
TIGER - $15M
Federal - $30M
CDOT - $117M
Local - $25M
HPTE loan - $50M
Mobility Choices: Similar to US36
Tolling Structure: In planning
North I-25 TIGER Local Partners
Local Partner
Amount
Larimer Co.
$10,000,000
Weld Co.
2,000,000
Non- Local Sources
Windsor
1,000,000
TIGER Grant $25,000,000
Timnath
500,000
CDOT $161,000,000
Johnstown
Other Federal $22,000,000
McWhinney
6,000,000
HPTE $50,000,000
Loveland
Total Non-Local Sources $258,000,000
Fort Collins
2,250,000
Berthoud
250,000
Subtotal
$25,000,000
North I-25 Added Scope Local Contributions
Fort Collins (Prospect)
$12,000,000
Fort Collins (Urban)
4,500,000
Loveland (402/34)
Johnstown (402/34)
Weld (402/34)
Larimer (402/34)
$30,500,000

17. Express Lanes Coming Soon
C-470 Express Lanes
Cost & Financing
TIFIA - $107M
HPTE toll revenue bonds - $162M
Local - $10M
CDOT - $60M
Mobility Choices: Toll-only; No free HOV/carpool/motorcycle
Tolling Structure: Toll rate to manage congestion by zone & day/time
Central 70
Cost & Financing - $1.2B
DRCOG (CMAQ) - $50M
CDOT - $185M
Bridge Enterprise - $850M
Private Equity - $65M
TIFIA- $404M
Private Activity Bonds - $141M
Mobility Choices: same as US 36 Express Lanes
Tolling Structure: toll rate to manage congestion by day/time

18. Innovative Finance Think Tank
Parking Facilities
Road X
Hyperloop
Digital Communication Networks?
Land/Right of Way Development?
Tunnel Lighting?
In-Road EV Charging?
Employee Housing?
Airports?

19. Introduction or presentation title slide.
Questions?