Colorado Highways:
CDOT High-Priority Projects

The Colorado Department of Transportation in 1996 initiated its High-Priority Projects plan, a set of 28 projects across the state which CDOT committed to completing over the next approximately 25 years. The projects range from interchange reconstruction to major widening to resurfacing.

In 1999, a wrinkle was thrown in: Governor Bill Owens, elected in 1998, spearheaded an effort to speed up the projects through bonding large amounts of money. The legislature placed on the November 1999 ballot Referendum A, also known as the TRANs Measure. TRANs stands for Transportation Revenue Anticipation Notes, and allows the State of Colorado to issue bonds backed against future federal gas tax revenue, for the purpose of speeding up the projects. The measure passed with about 65% voting in favor of it.

TRANs are bonds which give the Colorado Department of Transportation a large influx of money now, and allow it to speed up many projects that would otherwise take longer to complete as the money slowly rolled in. The bond issue totaled $1.7 billion, while the total payback with interest will be at or below $2.3B. The bonds will be paid back gradually with federal gas tax money (18¢ a gallon) that is allocated to the state every year, along with state gas tax revenue. Taxes were not increased.

By issuing the bonds now and getting a large amount of cash upfront, CDOT is able to build many projects sooner. Since the interest rate on the bonds (probably 4% to 6%) will very likely be below the inflation of construction costs (probably 7% to 9%), money will be saved. The projects can be completed faster, thus tying up roadways with construction for a shorter period of time.

The reason this measure was on the ballot is because of Colorado's TABOR constitutional amendment. The "Taxpayer's Bill of Rights" forbids the state to go into debt without voter approval. When legislation was first introduced in early 1999 to implement TRANs, both the legislature and the Attorney General's office concluded TRANs were not truly debt, and would not need voter approval. However, the issue was brought before the state Supreme Court, which ruled TRANs did indeed constitute debt. Thus, the issue was put on the ballot for voter approval.

While the Bill Owens administration likes to take credit for speeding up the High-Priority Projects, it is the Roy Romer administration and the Colorado Transportation Commission which get credit for first identifying the 28 projects in 1996.

September 2010 update: As of now the debt service that CDOT has on the Ref A bonds is scheduled to be retired in FY 2016-17. This leads me to believe the effect of the Ref A bonds has basically run its course. This page is therefore somewhat vestigal, and is useful only for historic info. The bonds did help in acclerating numerous high priority projects, but the projects remaining face funding shortfalls.

The CDOT High-Priority Projects

 Not yet completed 

 Nearing completion

 Completed

Current tally:

  • Total High-Priority Projects: 28
  • Completed: 19

Project

1999 Cost

Status

Impact of TRANs Bonds

West Corridor
Denver to Golden "congestion improvement"

Not set

Project not yet set

Unknown

21 Powers Boulevard
Colorado Springs
New freeway
$220M
• Some stages built as expressway to be converted to freeway at later date.
• Platte/Powers interchange completed November 2001
• Research to Briargate completed June 2005
• Briargate to SH 83 completed September 2005
• Powers/Woodmen interchange completed 2009
Unknown

Pueblo
Interchange reconstruction

$69.7M

Completed September 2002

None

S. Academy to Briargate
Colorado Springs
Major reconstruction & widening

$342.3M

Completed December 2007

Accelerated by 1 year

Colorado Springs to Denver
"Congestion improvement"

$365M

• SH 105 interchange reconstruction: completed 2004
• Widening Wolfensberger to Founders: completed November 2007
• Founders/Meadows: completed 1998
• Widening to 6 lanes Founders to Lincoln: completed 2002
• Widening to 6 lanes Founders to Wolfensburger: completed 2007
• Widening to 6 lanes Wolfensberger to Crystal Valley: completed December 2009
• Widening to 8 lanes Founders to Lincoln: completed October 2009
• Other stages at future date

Possibly accelerated to 2018 completion date

Southeast Corridor
Douglas County to Broadway
Major reconstruction, widening and light rail line

$593.6M

T-REX project. Roadway improvements completed August 2006. Light rail open November 2006.

Accelerated by 11 years

Mousetrap, Denver
Interchange reconstruction and widening

$97.5M

Completed December 2003

None

North Denver
Interchange reconstruction and widening

$146.5M

Completed August 2008

Was going to be accelerated by 1 year to 2005 completion date, but recession halted funding for final phase

SH 7 to SH 66
Major reconstruction & widening to 6 lanes

$81.5M

Completed April 2009

Accelerated by 3 years

SH 66 to Fort Collins
"Congestion improvement"

$302.7M

Possible 2022 completion date

Unknown

Owl Canyon Rd to Wyoming
Concrete resurfacing

-

Completed 1999

N/A. Completed prior to TRANs bonding

SH 257 to Greeley
Major reconstruction & widening to 4 lanes

-

Completed 1998

N/A. Completed prior to TRANs bonding

Berthoud Pass
East side reconstruction and widening

$74.8M

Completed November 2006

Accelerated by 2 years

Grand Junction to Delta
Major reconstruction & widening to 4 lanes

$72.2M

Completed October 2004

Accelerated by 8 years

Mountain Corridor
DIA to Vail "congestion improvement"

$1.1B

Project not yet set

Unknown

East Corridor
Denver to DIA "congestion improvement"

Not set

Project not yet set

Unknown

Aurora to Kansas
Concrete resurfacing

$121.6M

Completed October 2002

Accelerated by 5 years

120th Avenue
Adams County
Interchange reconstruction

$45.5M

Completed August 2002

Accelerated by 4 years

Carbondale to Aspen
Major reconstruction & widening to 4 lanes

$185.9M

Completed November 2004

Accelerated by 1 year

Santa Fe Drive
Corridor improvements south of Denver

-

Completed pre-1998

N/A. Completed prior to TRANs bonding

SH 3 to Florida River
La Plata County
Major reconstruction & widening to 4 lanes

$60.1M

Several phases completed. Overall status unknown to me.

Unknown

Wolf Creek Pass
Reconstruction

$68.4M

• Numerous stages completed 1990s-2004
• East-side tunnel completed 2004

Overall status unknown to me.

Unknown

Aurora
Interchange reconstruction

$85.4M

Completed October 2002

Accelerated by 8 years

Goddard Ranch Ct to Foxton Rd
Jefferson County
Major reconstruction & widening to 4 lanes

$63.1M

Completed November 2002

Accelerated by 6 years

Oklahoma to Limon
Concrete resurfacing

$184.3M

Completed August 2012

Some earlier phases acclerated

Broomfield to Loveland
Major reconstruction & widening to 4 lanes

$92.4M

Completed August 2006

Was on track to finish 1 year ahead of schedule, but soil problems on the Berthoud bypass caused delays

Extension to 6th Ave
New freeway

-

Completed August 2000

N/A. Completed prior to TRANs bonding

New Mexico to Durango
Major reconstruction & widening to 4 lanes

$48.8M

Project not set

None

Project

1999 Cost

Status

Impact of TRANs Bonds

Sources:

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Last updated 25 August 2012