News

Federal and State Officials Sign Loan to Fund Remainder of the US 36 Corridor Improvement Project

September 1, 2011 - Denver Metro Colorado/CDOT Region 6 - DENVER – Today, September 1st, officials from the Federal Highway Administration, the U.S. Department of Transportation, and the High Performance Transportation Enterprise (HPTE), signed the Transportation Infrastructure Finance and Innovation Act (TIFIA) loan that will allow the Colorado Department of Transportation (CDOT) to move forward with adding express lanes and other improvements to the US 36 corridor between Pecos Street and Interlocken Loop.

“This is the last piece of the financial puzzle for this critical transportation project and will now be able to move full steam ahead towards the construction and completion of the much needed improvements,” said HPTE Director Michael Cheroutes.  “Without the strong partnerships and financial support between the local jurisdictions and various transportation partners over the last 15 years, this project would not be possible today.”

The TIFIA loan will provide $54 million for the $306 million project scheduled to begin construction in the spring of 2012.  The loan carries a 3.58 percent interest rate and must be paid off by 2049.

The remaining $252 million will be funded by CDOT, the HPTE, the Colorado Bridge Enterprise, the Regional Transportation District (RTD) and the Denver Regional Council of Governments. In addition, the State of Colorado received $10 million through the TIGER (Transportation Investment Generating Economic Recovery) grant program in 2010 for the project.

The first phase of construction between Pecos Street and Interlocken Loop consists of the following improvements:

  • Reconstructs existing pavement on US 36 and widens the highway to accommodate a 12-foot wide shoulder.
  • Adds a buffer-separated managed lane in each direction of US 36 for Bus Rapid Transit and High Occupancy Vehicles. Single Occupancy Vehicles will also be able to use the managed lane by paying a toll that varies in amount by the time of day.
  • Replaces the Wadsworth Parkway, Wadsworth Boulevard, and Lowell Boulevard bridges over US 36.
  • Adds Bus Rapid Transit improvements.
  • Installs Intelligent Transportation Systems (ITS) for tolling, transit information and incident management.
  • Installs a commuter bikeway along much of the corridor being reconstructed.

While construction for the first phase moves forward, CDOT and the HPTE continue to evaluate alternative means for financing the remainder of the US 36 project between Interlocken Loop and Table Mesa/Foothill Parkway near Boulder.

For more information on the project including design-build opportunities, visit http://www.coloradodot.info/projects/US36ManagedLanes/.

 

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