Denver’s Regional Transportation District (RTD) Thursday said it has issued the official Notice to Proceed to Denver Transit Partners (DTP) with the FasTracks Eagle P3 Project’s first phase, a 22.8-mile East Corridor Commuter Rail Line to Denver International Airport.
RTD gave the notice in conjunction “with financial close in New York on $397.8 million in private activity bonds for the innovative Eagle P3 public-private partnership.” Groundbreaking is scheduled for Aug. 26 on the south lawn of DIA’s Jeppesen Terminal.
The Notice to Proceed is for Phase 1, which includes the East Corridor, a new maintenance facility, provision of the trains that will provide service on the project, and final design work on the FasTracks Gold Line and Northwest Rail Electrified Segment.
Fluor Enterprises Inc. will lead the design-build team during the six-year design-build phase of the Eagle P3 Project. Fluorwill also form part of the team that will operate and maintain the project’s regional rail lines for the 28-year operating period.
“The RTD staff has worked diligently for more than two yearsto bring this innovative public-private partnership to a reality,” said RTD Board Chairman Lee Kemp. “We said in 2007 that we would explore all avenues to keep FasTracks moving ahead, and this is a prime example. We are keeping that pledge today with closing on the private financing for the Eagle P3 Project,” He added, “We continue to forge ahead on securing funding for the rest of the program.”
DTP will now work on the final design for the project. It expects to begin early construction work such as site-clearing and utility relocation along the East Corridor in the coming months. The East Corridor is scheduled for completion in January 2016.
“It is gratifying that the success of our public-private partnership has been watched with great interest by transportation and finance entities all over the world,” said Phil Washington, RTD general manager.