Gardner Announces C-470 Express Lanes Funding for Denver Metropolitan Area
Washington, D.C. – Senator Cory Gardner (R-CO) today announced the Colorado Department of Transportation (CDOT) has been awarded a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan of up to $109 million. The loan will be used to help fund the Colorado High Performance Transportation Enterprise Express Lanes project along Colorado State Highway 470 (C-470), the 26-mile highway that runs along the Southern and Western part of the Denver metropolitan area.
“This is great news for Colorado,” said Gardner. “Whether it’s the mother driving her kids to school, or the small business moving its products across the state, all Coloradans depend on a strong infrastructure. Our region is in significant need of repairs and new investments to our roads and this funding is exactly why I fought back at attempts to cut the TIFIA program two years ago.”
In 2015 Senator Gardner led efforts in the Senate to block changes to the TIFIA program that would have jeopardized this project and several others across the state. If the transportation measure would have passed without Senator Gardner’s requested reforms, the TIFIA program would not have been able to move forward with loans like the one announced today.
"Thanks to the efforts of Senator Gardner and others in the Congressional Delegation, we understand the Committee on Credit and Finance met this week and we are looking forward to a positive outcome to finance this deserving project, " said Shailen Bhatt, CDOT Executive Director. "The C-470 Express Lanes project is part of CDOT's vision to improve mobility and reduce congestion in this critical corridor."
The C-470 Express Lanes project will expand the most congested portion of Colorado State Highway 470 between Interstate-25 and Wadsworth Boulevard. Construction on the project officially began in November 2016. With this final funding award, the projected is expected to be complete by Spring 2019, according to CDOT.
Cory Gardner is a member of the U.S. Senate serving Colorado. He sits on the Energy & Natural Resources Committee, the Foreign Relations Committee, the Commerce, Science, & Transportation Committee, and the Budget Committee, and is the Chairman of the Subcommittee on East Asia, the Pacific, and International Cybersecurity Policy and Subcommittee on Energy.
354 Russell Senate Office Building, Washington, DC 20515
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