Bus

Denver's Union Station project receives $300M

Posted on July 27, 2010

Denver's Union Station project will receive a bit more than $300 million in federal loans through an unprecedented and historic innovative financing arrangement using the U.S. Department of Transportation's (U.S. DOT) Railroad Rehabilitation and Improvement Financing (RRIF) Program and the Transportation Infrastructure Finance and Innovation Act (TIFIA) Program.

The project is funded with a unique financing structure and for the first time combines credit assistance from both programs.

The loans are being awarded to the Denver Union Station Project Authority (DUSPA), a non-profit, public benefit entity formed by the city in July 2008, through a partnership with the Regional Transportation District (RTD), City and County of Denver, Colorado Department of Transportation, Denver Regional Council of Governments and Denver Union Station Metropolitan District.

The redevelopment project is a 50-acre public-private mixed-use development located in lower downtown Denver. The loans will finance new intermodal transportation facilities, which include an underground bus terminal with 22 bays; a light rail terminal consisting of three tracks and two platforms for existing and planned routes; and an intercity and commuter rail facility consisting of eight passenger tracks, platforms, and service and storage improvements.

Also included are the extension of the 16th Street Mall and the Shuttle service, accommodation of the Downtown Circulator service, as well as pedestrian improvements and improved street and replacement parking and utility infrastructure. Integration of these services will provide travelers seamless connections and access to public spaces.

Together the TIFIA and RRIF loans constitute approximately 58 percent of all funding sources for the project. Under the financing plan, an RTD bond as well as tax increment revenues pledged to DUSPA will be used to repay the debt. RTD will assist with the construction management of the transportation improvements and will own and operate the facilities after the construction period.

View comments or post a comment on this story. (0 Comments)

More News

Hometown Trolley acquires Supreme Corp.'s American Trolley product line

The purchase furthers Hometown Trolley's overall strategic business model to become the leading trackless trolley bus manufacturer in the North American transit industry.

Volvo Buses unveils pedestrian and cyclist detection system

The system will be introduced on Volvo’s European city bus fleet in 2017.

Stertil-Koni introduces high-performance, low-capacity hydraulic vehicle lift

The company’s ST 1064 hydraulic mobile column lift has a capacity of 14,000 lbs. per column, or 56,000 lbs. for a set of four.

METRO, PERC honor innovation, clean fleets at BusCon 2016

Arrow Stage Lines, L.A. Metro and Pierce Transit and their supplier partners, as well as fleets in San Diego and Detroit were among the honorees.

Blue Bird Commercial to feature range of options at BusCon 2016

Commercial bus fleet operators will find a full range of small and medium-sized buses at the Blue Bird booth (#501) at BusCon 2016 being held at the Indiana Convention Center in Indianapolis on Sept. 19 - 21.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close