Barchan - Project : East Corridor FasTracks to Denver Airport

Project Details

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Background Information

Project Name East Corridor FasTracks to Denver Airport

Sector Transportation Terminal, Rail, Transportation

Description 22.8 mile electrified commuter rail line from Denver Union Station in downtown Denver to Denver Int'l Airport (DIA).

Status Project Definition/Programming

Type New Facility

Is the project still active? Yes

Locations

Address Union Rail Station

City Denver

State Colorado

Country United States of America

Address Denver International Airport

City Denver

State Colorado

Country United States of America

Comments Private consortium (denver Transit Partners) for design, construction, operation and maintenance of the East Corridor line for 40 years. Financing from public sources, with private sector funding as well. Once the facility opens, developer will operate the facility and will receive annual availability payments, based in part on performance.

How is the Project Delivery Method for this Project described in the Country where it is Located? Design Build Finance Operate Maintain

Sources of Project Support [Non-Monetary]

Access to Land (none)

Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s) 40 year DBFOM concession to operate the system, once completed. Commitment to annual payments from Regional Transit District to the developer/concessionaire.

Environmental Clearance (none)

Sources of Project Support [Monetary]

From Public (Government) Sources to Producers 2 billion (+) initial design and construction cost.

Direct Cash Support Sources of funds as at 2015 (opening day): From Final Envir Impact Statement. $63 million from RTD bonds;

From Other Public Entities - Direct Grant of Appropriated Public Funds $789 million from FTA (US DOT) new starts program; $21 million in other federal funding; $34 million in local public funding; $437 million in private funding. RTD is hoping to increase the "new start" funds to $1 billion.

From Private Capital Markets Directly to Producers as Debt $1.3 billion in private funding - combination of debt and equity, backed in part by promise of annual payments from RTD for O&M of the completed lines.

From Producers as Equity $1 billion reported in Denver Daily post to come from in contribution of equity by developer, backed in part by promise of annual payments from RTD for O&M of the completed lines.

Project Delivery & Finance Method

Project Delivery Public Sponsor contracts for initial design, construction, and for long term operations and maintenance with a single entity. At the end of the term, Public Sponsor regains control of the facility.

Is there an Independent Checking Engineer? Yes

Project Finance Method All or Partially By Public Sponsor