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Quarterly (ipclate
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Quarterly report October I - December 31,2000
About the Tollway
E-470 is a toll highway that runs along the eastern perimeter Fixed Contract Price
of the Denver metropolitan area. Presently,the road extends The total price to be owed to the design-build contractor
34 miles from State Highway C-470 at 1-25 in Douglas County for the performance of all of its obligations with respect to the
on the south,runs east then north through Aurora,passes along j Segment IV project is $233,051,777. The contract price includes
the western edge of the Denver International Airport,and all design,construction,supervision,equipment,materials,labor,
terminates at 120th Avenue just west of Tower Road in Adams and services relating to the design-build contractor's obligations
County. under the design-build contract(including all equipment and
The E-470 Public Highway Authority ("the Authority") services provided by sub-contractors and vendors and intellectual
consists of eight member jurisdictions: Adams, Arapahoe and property rights necessary to perform the work).
Douglas counties and the cities of Aurora,Brighton,Commerce
City,Parker and Thornton. Affiliate,non-voting members are Guaranteed Completion Dates
the cities of Arvada,Broomfield and Greeley,and Weld County. The design-build contractor is obligated to achieve final
Ex-officio members are the Colorado Department of acceptance of the Segment IV project by the date that is 1,124
Transportation (CDOT),Denver Regional Council of days (June 10,2003)from the date of issuance of notice to
Governments and the Regional Transportation District(RTD). proceed with Phase III work. The design-build contractor is
required to achieve substantial completion of Sub-Package BI
(120th Avenue to US 85) by 850 days (September 9,2002)
About the rrO ect from the date on which the Authority gives notice to proceed
on Phase II for Package B,and on all of Package B by 1,034
days (March 12,2003)from the date on which the Authority
Segment IV,the final portion of the highway to be constructed, gives notice to proceed on Phase III for Package B.
will connect E-470's present northern terminus at 120th Avenue
with 1-25 on the north near the 157th Avenue alignment in Engineering Oversight
Thornton. The Authority has retained the services of O'Brien
A Segment IV design-build contract was signed in January Kreitzberg,Inc.as Project Oversight Engineer to assist with
2000 between MKK Constructors (MKK) and the Authority. design-review and construction implementation during the
MKK,a joint venture between Washington Group International, Segment IV design-build contract
Inc.(formerly Morrison Knudsen) and Kiewit Western,is
I designing and building the final portion. (See page 3,"Design-
Build Contractor" and page 6,"Subsequent Events.")
Construction is scheduled to be completed in 2003. -rnra;
Design-Build Contract
s
"Design-build" describes a project delivery method of • • °6• ''- 65
enhancing the likelihood of timely project completion and cost • des /& ()
control by permitting a variety of aspects of a project,including
: it:::
r b • • ir'design,obtaining governmental permits and right-of-way, i _ $ • •/ o
subcontractor bidding,procurement and construction,to occur I96NAvenue '�9.
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3 •
concurrently rather than in sequential completed steps. The r'", a ss.bpc
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Water, Water, if ver where
Unlike any other portions of E-470,the dozens of water crossings along Segment IV have presented
many design and construction challenges.
Consequently,the extensive drainage works has created the need for bridges on the Platte River,
Second Creek,Third Creek and Big Dry Creek. A major detention pond is being created for Third
Creek,located south of 120th Avenue with Concrete Box Culvert(CBC) control release structures
under 120th Avenue.Between Buckley Road and Sable Boulevard,a major portion of Third Creek has
been developed for relocation while its wetland attributes have been maintained. Along the north side
of E-470 and both sides of 1-76,over 30 acres of wetlands will be cultivated by the environmental design
partner for the project. Extensive coordination has been required with the Urban Drainage and Flood
Control District, Adams County,the Farmers Reservoir and Irrigation Company and all the affected
cities.
Along Segment IV,there are seven major canal and ditch companies,four of which are historic and
date back to the turn of the 20th century. Bridges that cover the historic irrigation canals and ditches
help preserve the open waterway aspect of these facilities,and have been designed for the E-470
crossings at the historic O'Brian Canal and the Burlington Ditch.
Preceding east to west,E-470 spans the historic Fulton Ditch and the adjacent Union Pacific Railroad
(UPR) and US 85,and over the historic Brantner Ditch,and Riverdale Road. The designs for the other
three major irrigation crossings involve the following:
•A 60 inch culvert crossing for the German Ditch under the Boulder Branch of the UPR and
under E-470.
•A drop structure and a 48 inch outlet culvert for the Signal Ditch with a 24 inch parallel siphon.
•A CBC for the Bull Canal.
The other IS irrigation facilities are major and minor laterals off the supply canals and ditches.One of
these laterals has eight users and another has four users.The complexity of ownership for irrigation
facilities complicates the design and agreement process,making it time consuming.
A view from the road: Looking southeast towards E-470 along the O'Brian Canal.
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Segment IV Design-build
rro'ect Progress Re ort
Design-Build Contractor • Utility relocations continue to avoid conflict with
The Authority entered into the Segment IV design-build construction improvements.
contract on January 27,2000 with the design-build contractor,a • The worksite has been continually monitored for
joint venture between Washington Group International,Inc. environmental and erosion control concerns.
(formerly Morrison-Knudsen) and Kiewit Western Company. • Fencing has been erected to protect existing wetland areas
Full notice to proceed was given during the first and second and silt fencing has been installed to control erosion.
quarters of 2000 with formal groundbreaking occurring on • Earthwork has started at a number of bridge locations.
September 7,2000. At the end of the fourth quarter,overall • Haul roads have been constructed through area B I to keep
design-build construction was 19 percent completed. (See page the overflow of traffic off the local roads.
6,"Subsequent Events:') • Two temporary bridges were built over the O'Brian Canal to
provide direct access from borrow pits to the alignment
Design Progress Summary
By year-end,design for the total project was 50 percent Right-of-Way
complete. For the last quarter of 2000,E-470 acquired possession of
As design progressed at a rapid pace,the fourth quarter saw nine additional parcels in Sub-Package B1 (120th Avenue to US
the first significant construction on Segment IV. At the end of 85)which leaves only six parcels remaining out of a total of 87
2000,design for area BI was 60 percent complete while area B2 parcels.One parcel in Sub Package B2 (US 85 to 1-25 North)
was estimated at 20 percent complete.Both design and was acquired,bringing all acquisitions in B2 to a total of 30
construction work started at 120th Avenue and proceeded west percent
with the goal of completing these activities in time for opening For the year 2000,in all of Segment IV,56 parcels were
from 120th Avenue to US 85. Significant events during the acquired,bringing possession to 36 percent of all parcels,which
fourth quarter included the release of significant right-of-way to equates to 866 acres (47 percent of total acres) and
the design-build contractor and obtaining crossing agreements approximately 7.3 linear miles. All relocations of owners and
on three of the largest and most significant irrigation canals, tenants have been completed.
namely the O'Brian,Burlington and Bull canals. Area BI right-of- Eight oil wells were acquired and two tank batteries were
relocated or removed in oil and gas acquisitions completed in
way was contractually due for release to the design-build
contractor on November 8,2000. This was accomplished with 2000. All such acquisitions are to be completed by May 8,2001
the exception of one small ditch crossing,the Sable Ditch. to facilitate the construction schedule.
I Condemnation is proceeding to allow release of the ditch for
construction.Relocation of this ditch will be required but this Project Financial Highlights
work is not critical to job progress. In May of 2000,the Authority closed on a $358,048,750 bond
Significant early construction progress has been made. issue to finance Segment IV. This raised the total debt for E-470
Embankment work is well ahead of schedule and the design- to approximately$1,231,000,000. Through the fourth quarter,
build contractor is ready to begin bridgework with piling and MKK had invoiced the Authority$44,508,000 or about 19
caisson construction at Second Creek, percent of the total contract value.
Utilities Major Interchanges
Fifteen out of 51 identified utility packages (all in the area B I) Working with CDOT,preliminary design is underway for
completion of three interchanges (1-25,US 85 and 1-76) plus the
have been released for construction. Utility nlans include water.
later date when funding is generated from toll revenues.Land Timeline Milestones
developers and member jurisdictions have requested that E-470's design-build approach allows portions of the highway
certain interchanges be constructed in advance of the future to be designed even as other portions are being constructed,
dates or under an accelerated timing from the original planned accelerating the completion schedule over the conventional
construction date. In the fourth quarter,the Authority's Board design-bid-build process.
of Directors approved a new policy for accelerated interchanges In Segment IV,that accelerated pace continued in the fourth
that requires the proponents of the interchange undertake all quarter. In the Sub-Package BI,the eastern portion of the
construction costs with any future reimbursements by the construction,earthwork was two months ahead of schedule by
Authority made to member jurisdictions. year-end,and engineering design was already 60 percent
The Gartrell Road interchange was the first such accelerated completed— on target for its scheduled completion in the
interchange.Operating under a "shadow toll"agreement,US second quarter of 2001.
Home,the financiers of the construction for the interchange, The western portion,Sub-Package 82,will finish
paid all tolls for customers from its inception in April 2000 to E-470's semi-circular loop back to 1-25. Right-of-way
year-end 2000,when regular tolls commenced. The two-lane acquisition and engineering— preparatory to construction this
ramp at the Gartrell Road interchange is the prototype for all spring—were by year-end both 20 percent complete. Right-of-
future diamond interchanges on E-470. The dual functionality at way progress was well-positioned to gain momentum in the
each toll location allows ExpressTollTm customers to by-pass first quarter of 2001. Design should be on track for
cash customers paying at the automatic coin machines. completion in mid-summer of 2001.
The Quebec interchange has been proposed for accelerated
implementation by a local developer,Gateway American
Properties. Gateway has agreed to finance the design portion of
the project.Once the design is complete,Gateway will make a
decision on funding construction.
Other accelerated interchange activity in the fourth quarter
included: planning interchange completion of Potomac-
Chambers and a new half-diamond at Jamaica (formerly
Cottonwood) near 1-25 and C-470.
E-470 Segment IV Completion Schedule
Sub-Package B1
(120th Ave.to US 85) r Financing completed;Notice to Proceed given 20
Design 60 percent complete
Engineering f
r100 percent of right-of-way acquired ahead of schedule
Right-of-Way III
-Ground breaking held September 7,ahead of schedule
Earthwork two months ahead of schedule
Construction
5udget and
Revenue On the (load
• A final budget amendment E-470 The fourth quarter of
Year 2000 Total EXpressToll"'Accounts and Transponders Issued
for the year 2000 budget 000 2000 continued to show
was made in December, growing public acceptance
— E%p,aaTolf'RcrouM•
2000. 7°000 -mp.pood.c lou.e of paying tolls to receive
• The final operating budget so 000 E-470's driving benefits of
for the year was speed,safety,and reliable,
$18,744,000. 50,000 - . uncongested traffic
• Year-end revenue from conditions.
tolls was $23,235,175 or 4°000 µ The number of
99.16 percent of the 000 ; ExpressTollT' transponders
projected amount issued by the end of the
• Vehicle Registration Fees 20,000 year reached 77,089—a 63
• amounted to $6,953,274 percent increase from the
or 102 percent of budget 10,000 end of January.
• Highway Expansion Fees l , , 'I l Monthly toll revenue in
°
totaled $372,185 or 155 ski mss/ m Vic` / / 1 f cc, gyp` dt .,j` the fourth quarter was
percent of the budget s°° Imo T ' q'v`° o& ., t solid too,averaging nearly
$2.1 million. Weekday
transactions averaged over
83,000 for the quarter,far
E-470 surpassing the original
trier Capital Year 2000 Monthly Toll Revenue 66,000 projected and
$2,500,000
rro ect5 �••^T^x• making the final quarter the
-Electronic Tolls . second strongest of the
$2,000000 - year—both in transactions
Maintenance
and revenues.
Support Sites $1,500000
Construction commenced
in the fourth quarter at 5 �000
Maintenance Support Site A
(MSS A),near Jordan Road $500,000 ;
and E-470 in Segment 1,and
also at MSS C,adjacent to 0
the Central Maintenance tco'a� eet 41) / 4,3; S I Sr O6amF'°9 F'°m
Facility at Plaza C.MSS A is m eQ +
scheduled for completion in
November of 2001 while
MSS C should be occupied E-470
around June 1,2001. Year 2000 Weekday Toll Transaction Average ,1
5oard of
Area Activity and r conomic Impacts pirectors Management
Following the November election and the failing of"slow growth" Roland E. Cole Edward J. DeLozier
initiatives,development referrals evened off to 28 in the fourth City Council Member, Executive Director
quarter. These referrals were evenly split between the northern and Commerce City,
southern member jurisdictions of the Authority. Chairman John D. McCuskey
American Furniture Warehouse's 635,000 square foot showroom, Diiecwr of Finance and Audit
located near the Peoria Street exit,will open to the public in March Noel Rustic
2001, resulting in a positive traffic increase along Segment I due to this Mayor, Matthew M. ,McDole
City of.Thornton, Chief
retail development. Aurora's Segment III activity includes discussions 'Engineer
regarding Kings Pointe,a development of 2,118 residential units on 944 FirstVice Chairman
acres. Several major retail developments have been reviewed,including Lynn Myers David M. Kristiek
M
a 1.5 million square foot retail center at Smoky Hill Road and E-470. o Director f�erations
The World Park,a 5,500-acre sports park proposed for Arapahoe County Commissioner,
Arapahoe County, Timothy Paranto
County,is on hold at this time. Residential development continues to Second Vice Chairman
dominate the southern area.East and north of Parker Road to Smoky Director of Maintenance
Hill Road,approximately 29,000 single and multi-family units are being Terry V. Lucero
planned. Mayor,.
The majority of referrals from the northern section of the E-470 City of Brighton,
corridor are for residential or mixed-use developments. The City of Secretary N
Thornton has secured several annexations which will bring retail and j jeao Qua rters
commercial development to this portion of E-470. Gary Lasater
Mayor,_.
Address:
Town of Parker, 22470 E.6th Parkway
Treasurer Suite 100
Aurora,Colorado 80018
SulDse uent r vents James R. Sullivan
County Commissioner, Telephone:
In a press release dated March 2,2001,Washington International Douglas County, 303-537-3470
Group,Inc.("WGI"),one of the members of the Design-Build Director
Contractor,announced that"the company faces severe near-term
liquidity problems due to a delay in resolving purchase price Paul E. Tauer
adjustments in connection with its acquisition of Raytheon Engineers& Mayon
Constructors (RE&C),and due to substantial cost overruns and City of Aurora,
Director
negative cash flows associated with certain RE&C projects acquired."
WGI also stated that it is in default under certain covenants in its Ted Strickland
senior credit facilities with its banks and that its viability is dependent County Commissioner,
upon resolution of its near-term liquidity problems. WGI stated that it Adams County,
is considering alternatives to increase liquidity but,given the near-term Diret tor
nature of its liquidity problems,WGI's alternatives are limited and there is no assurance it will be able to obtain additional funds. WGI
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