COLORADO TURNS TO TOLLS TO FINANCE NEW ROADS

The Northwest Parkway in Colorado is an example of road project in which the complete source of funding came from private bonds paid off by highway tolls. The use of a design-build delivery method was considered to be the key factor in the successful construction of the highway. Faced with a 31 month deadline and a strict budget, the project needed a contractor who would commit to a price despite there was only a small portion of the design that was completed. The article notes that a study of traffic conditions and a forecast of what the potential toll revenue would be is critical in determining whether a tollway is an appropriate way to fund a new road.