Nine Colorado public highways being sold to foreign toll road firms over the next 12 months starting with US 36.
I-70 in downtown Denver/mountains, C-470 and I-25 from Denver to Ft. Collins are all being privatized and tolled.
Round trip from Denver to Boulder will cost up to $28 in the express lane during rush hour. Toll cost is indexed to inflation and will rise much higher over the next half century.
The amount of profit Goldman Sachs and Plenary will make from US 36 is a CDOT secret that is being kept from the Colorado taxpayers and elected officials.
The expensive toll lane addition will mean highly congested free lanes. It will become illegal for the state of Colorado to add additional free lanes to US 36 without compensating the toll operator for 50 years of decreased toll revenue.
Colorado elected officials are not being allowed to review the secret 50 year contract terms before the state privatization board, the HPTE, signs the contract.
CDOT is lying to the public and elected officials. CDOT claimed Jan 23 in the Denver Post that the 50 year legally binding US 36 contract can be amended at anytime. This is a lie.If the US 36 contract is changed or the toll lane removed, Colorado will be legally obligated to pay Goldman Sachs and Australian shareholders 50 years of toll revenue- a cost to taxpayers of hundreds of millions or billions of dollars.
If an emergency closes Highway 36 for more than 12 hours in a year, taxpayers will be required to compensate the toll road operator until the highway is reopened. In the southern US, toll roads force the state governments to pay tolls during hurricane evacuations.
Wages of CDOT snow plow drivers and highway workers will be slashed by as much as half, with benefits and pensions likely eliminated to increase Goldman Sachs and shareholder profits.
Like a scene from the Hunger Games, the private toll road operator and the state privatization board can order CDOT to take action against Colorado citizens protesting tolls.
It will be illegal for surrounding communities to upgrade roads or transit systems around US 36 in any way that reduces tolls for Goldman Sachs and the Australian toll road developer, Plenary Group unless Colorado pays 50 years of toll compensation.
To boost toll revenues, HOV cars with a driver plus passenger will soon have to pay tolls to use the US 36 or I-25 express lanes.
Senator Matt Jones and 14 Colorado elected lawmakers including Senate President Morgan Carroll have signed a letter requesting a 60 day hold on the US 36 privatization contract. CDOT has rejected the Senators’ request and is racing to sign the 50 year contract before public outrage can stop the deal.