Project Details

✔ Project has been published!

Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: January 18, 2017

Project Name: Eagle P3 Project
Year in Operation:
Sector: Transportation
Subsector: Rail, Transit
Status: Design / Construction
Type: New Facility
Description: The Eagle Project is part of RTD's FasTracks initiative, a voter-approved program to expand rail and bus transit throughout the Denver metropolitan region. FasTracks includes 122 miles of commuter rail and light rail, 18 miles of bus rapid transit service, the redevelopment of Denver Union Station (DUS), 21,000 new parking spaces, and other improvements. The Eagle Project is being procured through a concession agreement between RTD and Denver Transit Partners to design, build, finance, operate, and maintain the project's components for 34 years. RTD will retain ownership of all assets at all times, set fares and fare policies, and keep all project revenues. RTD will make availability payments to the concessionaire based on established performance metrics. NOTE: More details about the constituent projects of the Eagle P3 Project are to be entered separately.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: Availability Payment supporting financing of initial construction and design.

Project Locations

Address: LoDo
City: Denver
State: Colorado
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: RTD supplies access to required land during concession.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): RTD will make service availability payments during the O&M.
Checkbox Checked Environmental Clearance: Initial clearances by RTD. Final clearances by concessionaire.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: Typical complex DBOM with availability payment financing structure. Direct cash from Owner, coupled with commitment to make availability payments during concession term. $1B plus in Grants from federal entities supporting initial design and construction. TIFIA credit support loans. $450 million in private debt placed by the concessionaire team. Small equity contribution from concessionaire.

Arrow Right
Checkbox Checked

Direct Cash Support

Arrow Right
Checkbox Checked

From Public Sponsor of Project - Direct Expenditure of Appropriated Public Funds: RTD sales tax revenue - $114.3 million; Local/CDOT/other contributions - $40.3 million

Arrow Right
Checkbox Checked

From Other Public Entities - Direct Grant of Appropriated Public Funds: Other federal grants - $62.1 million; TIFIA loan - $280.0 million

Arrow Right
Checkbox Checked

Credit Enhancements: FTA New Starts Full Funding Grant Agreement - $1,030.4 million; Net GARVEE proceeds - ($16.6 million)

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Private Activity Bonds - $396.1 million; Revenue bond proceeds - $48.2 million; "The Concessionaire has arranged around $450 million of private financing for the project."

Checkbox Checked

From Producers as Equity: Equity and other sources - $91.7 million

Checkbox Checked

Rated by Moody's: $280 Million TIFIA loan has been rated "Aa2" by Moody's Investors Service.

Checkbox Checked

Rated by Moody's: $280 Million TIFIA loan has been rated "Aa2" by Moody's Investors Service.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
34
0
Forms
Description
 
 

Project Value (If and As Known)

Date of Estimated Project Value: February 26, 2013
Project Value
Hard Cost
Hard & Soft Costs
Pre-Feasibility (Public Sponsor Expense)
(none)
> $50 Million US
Total
$2-10 Billion US
$2-10 Billion US
Array ( )

Warning!!!

You are about to delete: .

Confirm Deletion Cancel