E-470 & ExpressTollAnnual Update

August 20, 2018

TRANSPORTATION

LEGISLATION

REVIEW COMMITTEE

PARTICIPANTS

Heidi Williams E-470 Board of Directors, Chair

Mayor

City of Thornton, Colorado

Tim Stewart Executive Director

E-470 Public Highway Authority

2

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

3

BACKGROUND INFORMATION

47-mile all-electronic toll road

8 Member Jurisdictions

1991 – Opened first segment

2003 – Opened Segment 4

2009 – AET conversion

User-financed: NOT TAX FUNDED

More than $1.5 Billion in bond debt

Annual payments over $100 Million

Scheduled to be paid off in 2041

4

DEBT SERVICE COVERAGE

Debt Service Ratio Requirement: 1.305

2012 2013 2014 2015 2016 2017

Net Revenue $108,844,386 $120,716,683 $142,592,354 $162,110,926 $185,449,484 $202,334,239

Senior Debt Service $74,737,478 $81,657,745 $83,630,014 $91,119,525 $97,231,865 $95,246,810

Debt Service Coverage 1.46 1.48 1.71 1.78 1.91 2.12

1

1.2

1.4

1.6

1.8

2

2.2

$0

$25,000,000

$50,000,000

$75,000,000

$100,000,000

$125,000,000

$150,000,000

$175,000,000

$200,000,000

RATINGS UPDATE

2018 Ratings:

S&P A Stable UPGRADED IN MAY

Fitch BBB+ Stable REAFFIRMED IN MAY

2017 Rating:

Moody’s A3 Stable Currently waiting for 2018 report

6

TRAFFIC TRENDS 2009-PRESENT

7

3,250

3,750

4,250

4,750

5,250

5,750

6,250

6,750

7,250

7,750

8,250

8,750

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

Th

ou

san

ds

E-470 Monthly Transactions

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2017 USES OF E-470 REVENUES

9

Debt Payments - 39%

Capital Program - 27%

Operating Expenses - 17%

Law Enforcement & Safety - 1%

Required Reserves - DSCR - 12%

Reserves for Future E-470 Reinvestment - 4%

2017 Total Revenues - $249,565,793

TOLL ADJUSTMENT FOR 2018-2020

No toll increases for E-470 ExpressToll users for up to three years

Implemented January 1, 2018

ExpressToll rate dropped by $0.25 at Toll Plaza C

E-470 between I-70 and Peña Boulevard

License Plate Toll (LPT) adjustment to cover increased collection cost

25% premium over ExpressToll rate increased to 50%

LPT Customers can easily be converted to ExpressToll

Go to ExpressToll.com or call 303-537-3470

10

Ongoing reinvestment in road infrastructure

Road Widening (phased approach)

Multi-use pedestrian trail

Ongoing safety initiatives

Cable barrier and bridge repairs

Wrong-way driver prevention

Removal of Vehicle Registration Fees

Autonomous and Connected Vehicle research

RoadX support (Smart 25 and Panasonic)

Implemented Customer Education Campaign

Ongoing Interoperability efforts

E-470 INITIATIVES

11

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

Identified ~$1.8 billion in capital, infrastructure,

and replacement needs between 2018-2040

Authority is evaluating the timing and project

plans for these costs

LOOKING AHEAD – MASTER PLAN

12

12

2040 TRAFFIC PROJECTIONS

~100,000 IN 2040

~60,000 IN 2040

31,300 vehicles per day today

56,300 vehicles per day in 2040

52,000 vehicles per day today

93,700 vehicles per day in 2040

Key Takeaways:

• E-470 traffic almost doubles between now and 2040

• In 2040, north end will be as busy as south end is today

• Employment in E470 area forecast to grow by 44% in next 20 years compared to 29%in Denver metro area

• Population in E470 area forecast to grow by 38% in next 20 years compared to 27% in Denver metro area

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

38th Avenue Interchange - ARTA

13

ALL-ELECTRONIC TOLLING

ExpressToll customers prepay their accounts

Branding and technology used on all Colorado facilities

ExpressToll customers received a 35% discount

Also gain access to the ExpressToll Rewards Program

Front and rear image taken of license plate

Registered owner of vehicle receives monthly statement

LPT customers pay a 50% premium over ExpressToll on E-470

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

15

TOLLING SERVICES

• Tolling systems software development

• Toll equipment installation & testing

• Transaction & payment processing

• Business partner correspondence

• Customer service activities

• Billing, courts & adjudication

• Quality assurance

NOTE: E-470 does not set policies for CDOT’s toll facilities 16

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

COLORADO TOLL FACILITIES

17

COLORADO TRANSPONDERS

Interoperable Transponders

All transponders can be used on all toll facilities in the state

One transponder per vehicle

Multiple vehicles per account accepted

Total Issued Transponders: Over 1.7 Million

6c Tags - 81%

T21 Tags - 10%

Switchable HOV Tags - 9%

18

TOTAL TRANSACTIONS BY ROADWAY

18

Transactions (January - June 2018)

E-470 (69.7%)

NWP(4.5%)

Plenary - I-25C (2.9%)

Plenary - US 36 (12.6%)

HPTE - I-70 MEXL (.7%)

HPTE - I-25 N (9.6%)

*Includes all types of transactions processed including AVI, LPT, Segmented, Voided, and HOV transactions.

Total Transactions – 60.2 Million Lane level transactions through June

9% increase from 2017 (all roadways combined)

Call Volumes – 451,000 Customer calls serviced through June

1% decrease from 2017

Images Reviewed – 32 Million Images reviewed through June

11% decrease from 2017

New ExpressToll Accounts – 69,000 Accounts opened through June

11% increase from 2017

OPERATING STATISTICS

THANK YOU FOR YOUR TIME

20

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

21