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The Denver Post The Northwest Parkway toll authority is re-financing about $225 million of the road's bond debt to get more favorable terms for repaying investors in the toll highway. Toll revenues are only about 40 percent of of what was predicted in 2001, and the highway needs the bond re-fund to adjust payment schedules so the road pays less money now and more after traffic picks up, said parkway executive director Steve Hogen. About 9.5 miles of the Northwest Parkway is tolled; about 1.5 miles is not. The highway runs from near Interstate 25 and 160th Avenue, where the E-470 toll road meets I-25, on an arc to a point near the Boulder Turnpike. "Without the current debt restructuring, revenues would likely not be sufficient to pay the existing debt service beginning in 2006," said Moodys Investors Service, the bond-ratings agency, in a recent statement. Job growth and residential construction in the Northwest Parkway corridor have not matched predictions, according to Hogan and officials at Moody's. |
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The following organizations endorse CINQ’s position: Colorado Environmental Coalition, 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. |