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The Denver Post By Chuck Plunkett Northwest Parkway officials announced this morning that they would put the troubled toll road up for an extended lease. The three-member board said it would seek bids after it received an unsolicited offer from an group of institutional investors. That group, parkway officials said, has expressed interest in buying the debt issued to build the parkway, and take over operation and management of the 11-mile road that connects Broomfield to the E-470 toll road. The $416 million toll road project opened in 2003, and immediately failed to collect the tolls it expected. "Our board of directors has instructed us to begin a process resulting in a long-term leasing partnership, if we can identify an outstanding, well qualified partner and can negotiate an agreement that makes sense for both sides," said the parkway's board chairman, Chris Berry, in a prepared statement. Berry pointed to similar agreements in and outside the United States, such as the Chicago Skyway and the Indiana Toll Road. The agreement also might carve out a share of lease proceeds to Broomfield, Lafayette and Weld County, officials said. Officials said they hoped to conclude the search process by the end of this year. |
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The following organizations endorse CINQ’s position: Colorado Environmental Coalition, Jeffco League of Women Voters, Plan Jeffco, Friends of the Foothills, former Colorado Gov. Dick Lamm, Canyon Area Residents for the Environment (CARE), Blue Mountain Land & Homeowners Association, Apple Meadows Homeowners Association, Village at Mountain Ridge Homeowners Association, Meadow Run Homeowners Association, and Harmony Village Community Association. |