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

Denver RTD unveils its Flatiron Flyer BRT vehicle

The Flatiron Flyer buses, which were supplied by MCI and can carry 57 passengers each, are specially branded with a unique blue-and-sunrise-orange paint scheme designed by RTD and a U.S. 36 corridor stakeholder group.

Safe Fleet acquires Hadley's bus, motorcoach mirror product lines

The Hadley mirror business will remain in Elkhart, Ind., but will relocate from the Hadley site to its own production facility over the next few months. The management, engineering, customer service, administrative and production personnel of the Hadley mirror business will remain with the business and transition to Safe Fleet.

BusCon returns to Indy

Each year, more and more people look forward to BusCon as a chance to network, learn about new trends and technology, and gain the tools that are necessary to revitalize the way they tackle their own operations.

Project team wins award for N.Y. bus time displays

The countdown clocks were developed in part to address concerns about the overall accessibility of MTA’s Bus Time system, which sends wait-time information to riders via text message, a QR code scan, or over a web site.

Boston could benefit from more BRT, report says

The report argues that the city should be pushing for the “gold standard” of BRT. That would include a control station that monitors buses and ensures they come at well-spaced intervals and enclosed stops that shelter customers.

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 resource for managers of class 1-7 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