The Northwest Parkway Public Highway Authority, owner of Colorado's newest toll road (opened 2003), has finalized the bid for leasing the 11-mile road after revenue did not match expectations.
The Board of Directors of the Northwest Parkway Public Highway Authority, representing the three cities and counties the financially troubled roadway serves, had solicited bids from 11 investment firms and toll-road operators. They have selected a team of companies from Portugal and Brazil as the winner in a bid to operate the road which links the E-470 toll road with U.S. 36, under a long-term leasing arrangement.
"With toll revenues lagging original projections, Northwest Parkway officials began the search last year for private investors who might have a longer investment horizon and be able to weather the road's slower-than-expected move to financial stability.
Executive Director Steve Hogan said the parkway, which is owned by Broomfield, Lafayette and Weld County (sic), still is "on track" for a leasing arrangement that would retire about $416 million in bond debt and transfer financial risk to the private sector bidding team."
"They (the team of Brisa Auto-Estradas de Portugal S.A. and Companhia de Concessões Rodoviarias, of São Paulo, Brazil) are one of the largest toll-road operators in Europe," said parkway Executive Director Steve Hogan, adding that the parties will negotiate financial terms of the deal over the next 30 days."
"Governments have discovered that they can get billions of dollars in payments for other road construction and maintenance from their busy toll roads, which offer private investors a steady source of income over many years.
"The Northwest Parkway's leasing model is different from established toll roads because it does not yet have a robust flow of cash or the dense development in its corridor that would increase use of its toll lanes."
{Editor's note: It would appear that unlike the much acclaimed leases in Chicago (Chicago Skyway) and Indiana (Indiana Toll Road), the Authority will use the 'lump sum payment' to retire private debt used to finance the toll road, similar to the example of Virginia's Pocahontas Parkway}.
Thanks to Albert G. Melcher via Sierra Club Transportation Forum
FULL STORY: Foreign firms to operate troubled toll road

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie