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First time USDOT combined credit assistance from the TIFIA and RRIF programs.TIFIA credit agreement executed on July 23, 2010. The TIFIA loan was rated "A" by Fitch Ratings. There were reports of a man outside the Union Station bus terminal threatening to kill people. TIFIA debt service repayment has been structured so that it will not exceed RTD's annual payment to the Borrower. The TIFIA loan has a senior lien on pledged revenues, while the RRIF loan has a subordinate lien. The RTD payment is funded from the 0.4 percent FasTracks sales and use tax approved by voters in 2004. The TIFIA and RRIF loans are secured by liens on pledged revenues, which consist of an annual payment of $12 million from RTD to DUSPA and real estate development-related income generated by the DUSPA project area, including tax increment revenues, a levy on property tax revenues, and lodger's tax revenue. Substantial completion achieved on February 24, 2014. TIFIA Financial Advisor - Scully Capital.TIFIA Legal Advisor - Nixon Peabody LLP.Public Resources Advisory Group - Financial Advisor Other state and local funds - $19.9 millionĬontinuum and East-West Development Corporation (a joint venture called Union Station Neighborhood Corporation) is the master developer for the transit-oriented development.Īlex Brown Consulting - Financial Advisor

RRIF (Railroad Rehabilitation and Improvement Financing) loan - $155.0 million $487.7 million (TIFIA eligible project costs - $454.3 million) Project elements have been transferred to the Regional Transportation District (RTD), which operates and maintains them as a complete transportation district. Pedestrian improvements and improved street, replacement parking and utility infrastructureĭUSPA is a nonprofit, public benefit corporation formed by the City and County of Denver in July 2008 to finance and implement the project.Accommodation of the Downtown Circulator service.Extension of the 16th Street Mall and the Shuttle service.The transit district serves as a regional multimodal hub connecting commuter rail, light rail and bus rapid transit, regularly scheduled bus service, and other related transportation services, including:

The project comprised the redevelopment of the project site as an intermodal transit district surrounded by transit-oriented development, including a mix of residential, retail, and office space. The Denver Union Station project is a public-private development venture located on approximately 50 acres in lower downtown Denver, which includes the historic Denver Union Station building (excluding renovation of the building itself), rail lines, vacant parcels, street rights-of-way, and offsite trackage rights. Intermodal - Transit/Multimodal Development Leveraging these partnerships, and through increased transit police patrols during peak periods, the agency will significantly bolster the security presence at Denver Union Station, its bus concourse, and adjacent rail platforms and transit pavilions, as well as on 16th Street MallRide shuttles and other bus routes along the Colfax corridor.Photo credit: Colorado Tourism Office Locationĭenver Union Station Project Authority (DUSPA) Recognizing the safety and security of RTD’s employees and customers is paramount, the agency is enhancing security measures in response to an increase in unwelcome activities that are impacting Denver’s central core, and in particular the area surrounding Denver Union Station. RTD is supplementing its transit police operations through strategic partnerships with the federal Transportation Security Administration’s Visible Intermodal Prevention and Response (VIPR) teams and the Guardian Angels nonprofit organization. RTD will also add increased transit police patrols during peak times on the Union Station platform, as well as along the 16th Street MallRide and along the Colfax Avenue corridor. Johnson said RTD is partnering with the Department of Homeland Security’s Transportation Security Administration in the deployment of Visible Intermodal Prevention and Response teams to help detect and deter suspicious or dangerous activity. In a statement to FOX31, RTD said employee safety is a top priority, and they are stepping up security.