E-470 & ExpressTollAnnual Report

November 2, 2017

TRANSPORTATIONLEGISLATION

REVIEW COMMITTEE

PARTICIPANTS

Josh Martin E-470 Board of Directors, Chair Council Member Town of Parker, Colorado

Tim Stewart Executive Director E-470 Public Highway Authority

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E-470 MEMBER JURISDICTIONS

Voting Members Adams County

Arapahoe County

Douglas County

Aurora

Brighton

Commerce City

Parker

Thornton

Non-Voting Members Arvada

Broomfield

Colorado Department of Transportation (CDOT)

Denver Regional Council of Governments (DRCOG)

Greeley

Lone Tree

Regional Transportation District (RTD)

Weld County

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BACKGROUND INFORMATION

47-mile all-electronic toll road

User-financed

Political subdivision of State

8 voting member jurisdictions

Began operations in 1991

Completed roadway in 2003

AET conversion in 2009

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$38.4 Billion: Real estate valuation along corridor

407,000: Homes built within impact area

132,000: Jobs created within area

21,000: Households dependent on E-470 for travel

7,800: Workers dependent on E-470 for travel

14.8 Million: Driving hours saved with E-470

E-470 provides safety and reduces traffic incidents

ECONOMIC IMPACT STUDY (2016)

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FINANCE – BOND DEBT

More than $1.5 Billion in bond debt

Total matured bond payoff amount is $2.7 Billion

Annual payments around $100 Million

Scheduled to be paid off in 2041

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DEBT SERVICE COVERAGE

Debt Service Ratio Requirement: 1.30

2010 2011 2012 2013 2014 2015 2016

Net Revenue $88,662,106 $102,513,193 $108,844,386 $120,716,683 $142,592,354 $162,110,926 $185,449,484

Senior Debt Service $63,744,083 $65,099,797 $74,737,478 $81,657,745 $83,630,014 $91,119,525 $97,231,865

Debt Service Coverage 1.39 1.57 1.46 1.48 1.71 1.78 1.91

1

1.2

1.4

1.6

1.8

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-$10,000,000

$15,000,000

$40,000,000

$65,000,000

$90,000,000

$115,000,000

$140,000,000

$165,000,000

$190,000,000

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RATINGS UPDATE

Updated 2017 Ratings

Fitch BBB+ Stable UPGRADED

S&P A- Stable UPGRADED

Moody’s A3 Stable REAFFIRMED

Update to NPFG (bond insurer)

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TRAFFIC TRENDS 2009-PRESENT

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3,250

3,750

4,250

4,750

5,250

5,750

6,250

6,750

7,250

7,750

8,250

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Thousa

nds

E-470 Monthly Transactions

2009

2010

2011

2012

2013

2014

2015

2016

2017

E-470 AXLE COUNTS

2-Axle (96%)

3-Axle (1%)

4-Axle (1%)

5-Axle (2%)

Greater than 5 Axles (<1%)

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REINVESTING TOLL REVENUE

Wrong-way driver prevention

Deer fence installation

Median remediation

Cable barrier

Bridge rail replacements

Technology upgrades

EV charging station

Routine road maintenance

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ROAD WIDENING PROJECT

Widening 8 miles of E-470 3rd lane added to prevent congestion

7.5 mile bike trail

11 bridges widened

2 miles of concrete bridge girders

2 miles of bridge piles

200,000 tons asphalt pavement

1M cubic yards of embankment

QUINCY AVE.

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Temporary tag initiative - Update

Removal of the Highway Expansion Fees

Assistance during I-25 incident

Assistance with economic growth

Interoperability

Autonomous vehicles

RoadX support

RECENT INITIATIVES

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Level of Service Study

Roadway widening

Interchange improvements & additions

Continued maintenance improvements

Paving, lighting, signing, safety devices, etc.

Accommodate growth along corridor

Identify and implement mobility solutions

LOOKING AHEAD – MASTER PLAN

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PARTNERSHIP IMPROVEMENTS

6th Parkway Extension – City of Aurora

Quebec Interchange – City of Thornton

Tower Road Ramps – Commerce City

Quincy Interchange – City of Aurora

Chambers Interchange – Douglas County

Recreational Trails – Town of Parker & ACOS

Electrical Charging - RAQC

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ALL-ELECTRONIC TOLLING

ExpressToll customers prepay their accounts

Branding and technology used on all Colorado facilities

Front and rear image taken of license plate

Registered owner of vehicle receives monthly statement

LPT customers pay a 25% premium over ExpressToll on E-470

Branding and technology used on E-470 and CDOT tolled facilities

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COLORADO INTEROPERABILITY

Toll Roads:

E-470

Northwest Parkway

Express Lanes:

US 36 (Phase I and II)

I-25 (Central & North Seg II)

I-70 (MEXL)

Express Lanes (In progress):

I-25 North Seg III

C-470

I-70 Central

COLORADO TOLL FACILITIES

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EXPRESSTOLL SERVICES

Tolling Systems Software Development

Toll Equipment Installation & Testing

Transaction & Payment Processing

Business Partner Correspondence

Customer Service Activities

Billing, Courts & Adjudication

Quality Assurance

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COLORADO TRANSPONDERS

Interoperable Transponders – As of 9/30/17 All transponders can be used on all toll facilities in the state

One transponder per vehicle

Multiple vehicles per account accepted

Total Issued Transponders: 1,568,155

6c Tags - 81%

T21 Tags - 10%

Switchable HOV Tags - 9%

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TOTAL TRANSACTIONS BY ROADWAY

E-470 (72%)

NWP (4%)

Plenary I-25C (2%)

Plenary US-36 (12%)

HPTE I-70 MEXL (1%)

HPTE I-25N (9%)

January – August 2017

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ALL STATISTICS THROUGH SEPTEMBER 2017

Total Transactions – 86.9 Million Lane Level Transactions

11.8% Growth in 2017 (all roadways combined)

Call Volumes – 692,000 Customer Calls Serviced

5.3% Growth in 2017

Images Reviewed – 54.8 Million Images

30.5% Growth in 2017

ExpressToll Accounts Opened – 95,800 New Accounts Opened

1% decrease in 2017

OPERATING STATISTICS

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THANK YOU FOR YOUR TIME

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Tim Stewart, Executive Director

Email: tstewart@e-470.com

Phone: 303-537-3745

ExpressToll Customer Service Center

Email: customerservice@expresstoll.com

Phone: 303-537-3470

Roadside Assistance

Phone: 303-537-3400

E-470.com

Expresstoll.com

CONTACT INFORMATION

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