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Originally Posted by Nexis4Jersey
This list is crap....based on what....if anything these projects in limbo will be delayed or scaled back.
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I don't think Denver's FasTracks is in "limbo." 2/3rds of it is currently already under construction. The remaining 1/3rd if fully funded, but simply having issues with greatly inflated costs, meaning the sales tax revenue to start those remaining 1/3rd of FasTracks won't become available until about the year 2030.
That is, of course, assuming no PPP offers are made and accepted. Parsons already made an unsolicited bid to Design-Build-Finance-Operate-Maintain the north corridor EMU, however RTD Denver had to turn the offer down. Now Keiwit Construction has made an unsolicited bid to Design-Build-Finance-Operate-Maintain the remainder of the I-225 LRT line and it is currently being reviewed. If accepted, the line could be built right away, without additional local sales tax passage.
This November, Denver's RTD will attempt to pass a new sales tax, to double the existing FasTracks sales tax. If passed, the $7.4 billion total for FasTracks will be completed by 2022 and an additional ~$1.6 billion will be constructed from 2025-2032. That would bring FasTracks total cost up to $9 billion. reason being, under this plan, ~80 miles of BRT would also be added to the existing FasTracks plan. Possibly also a streetcar line(s) in downtown Denver.
Is that in limbo? really only thing in "limbo" are completion dates for 1/3rd of the lines and whether or not FasTracks will be expanded into an even larger project with a new sales tax passage this November. It all gets built, with or without the tax (except the additional BRT and Streetcar proposals being added). The new tax will just accelerate the 1/3rd of FasTracks not already under construction and adds even more elements to the already massive plan.
And if you want to look at individual elements of FasTracks, the Eagle P3 EMU is a $2.185 billion Design-Build-Finance-Operate-Maintain portion of FasTracks, fully funded and under construction. It is the largest public transportation PPP Design-Build-Finance-Operate-Maintain in the USA. It might actually be the only one in the USA, at least so far. This is being financed with $450 million in private financing and also has $1.03 billion in federal grants, in addition to local sales tax contributions.
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Background on the Eagle P3 Project
The Eagle P3 Project is being delivered and operated under a concession agreement that RTD has entered into with a "Concessionaire" that has been selected through a competitive proposal process. The selected Concessionaire is known as Denver Transit Partners (DTP), a special purpose company owned by Fluor Enterprises, Uberior Investments and Laing Investments. Other leading firms involved in the team include Ames Construction, Balfour Beatty Rail, Hyundai-Rotem USA, Alternative Concepts Inc., Fluor/HDR Global Design Consultants, PBS&J, Parsons Brinckerhoff, Interfleet Technology, Systra, Wabtec and others.
The Eagle P3 Project concession agreement requires DTP to design-build-finance-operate-maintain (DBFOM) the East Rail Line, Gold Line, Northwest Electrified Segment (NWES) (segment 1 of the Northwest Rail Line) and Commuter Rail Maintenance Facility project under a single contract. RTD will retain all assets while shifting much of the risk of designing and building the project to DTP. The Concessionaire has also arranged around $450 million of private financing for the project. This allows RTD to spread out large upfront costs over approximately 30 years, making it more affordable, much like a 30-year mortgage versus a 15-year mortgage. In return, RTD will make service payments to DTP based on their performance of the operation and maintenance of the project.
The Concessionaire will provide and maintain the rail vehicles for the three commuter rail corridors. The proposed rail vehicles are similar to vehicles being supplied to the Southeastern Pennsylvania Transportation Authority (SEPTA) in Philadelphia.
The Concessionaire will also operate and maintain everything it designs and builds, assuring safe and reliable commuter rail service for almost 30 years. For more detail about the constituent projects please click on the appropriate items: East Rail Line; Gold Line; CRMF.
Source: http://www.rtd-fastracks.com/ep3_2
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