Programs

About HPTE

HPTE's Mission

  • Partner with CDOT, private industry, and local communities.
  • Aggressively pursue innovative financing alternatives not otherwise available to the state.
  • Quickly deliver transportation infrastructure options that improve mobility.
  • Communicate openly with all stakeholders.

The Funding Advancement for Surface Transportation and Economic Recovery Act (Part 8 of Article 4, Title 43, Colorado Revised Statutes), otherwise known as FASTER, created the Colorado High Performance Transportation Enterprise (HPTE) in 2009 as an
independent, government-owned business within CDOT.

HPTE has the legal responsibility to aggressively seek out opportunities for innovative and efficient means of financing and delivering important surface transportation infrastructure projects in the state. It has the statutory power, among others, to impose tolls and other user fees, to issue bonds, and to enter into contracts with public and private entities to facilitate Public-Private Partnerships (P3s).

HPTE is an “enterprise” for purposes of Section 20 of Article X of the State Constitution as long as it retains the authority to issue revenue bonds and receives less than 10 percent of its total revenues in grants from the state and local governments. HPTE operates as a government-owned business within CDOT but is overseen by a separate Board of Directors that includes external stakeholders from four geographic regions appointed by the Governor.

Since the creation of the Enterprise, nine out of 10 HPTE projects have used some form of innovative financing. Such innovative means of financing projects include, but are not limited to:

  • public-private partnerships;
  • operating concession agreements;
  • user fee-based project financing; and
  • availability payment and design-build contracting.

Through Express Lanes, HPTE has helped deliver more than $3 billion in projects in the last five years. In fact, without Express Lanes as a financing tool, Colorado would have had to find an additional $1.27 billion in funds to deliver the projects it delivered as of 2018.

The Need and HPTE's Value  

The Need 

From 2016 to 2017, Colorado’s population grew by 1.4 percent, or about 75,000 new residents per year, according to the State Demographer’s Office. This number represents enough new residents to create a city the size of Loveland every year.

In 2017, Colorado’s growth rate was the eighth highest in the nation. This rapid population growth puts enormous pressure on the aging transportation infrastructure. Population growth, coupled with budget realities, significantly impacts the state’s ability to maintain and expand the transportation system. Finding solutions to these challenges is critical.

Colorado’s highway infrastructure is severely congested and, in many areas, it is more than 50 years old and in need of repairs and
maintenance. The rapid growth of Colorado’s population points to even greater congestion in the decades ahead unless innovative ways
to accelerate key projects are pursued.

As Colorado faces the realities of aging infrastructure, rapid population growth, and budgetary shortfalls, HPTE is a key means of exploring and developing innovative ways to address these challenges.

HPTE's Value 

HPTE was formed to aggressively pursue innovative means of more efficiently financing important surface transportation infrastructure
projects. Since the creation of the Enterprise, nine out of ten HPTE projects have used some form of innovative financing. Innovative
financing enabled by HPTE, through Express Lanes, has helped deliver more than $3 billion in projects in the last five years.

HPTE has:

  • Helped secure $130 million in federal grant dollars,
  • Directly attracted $125 million in private investment, and
  • Leveraged more than $1 billion of bond proceeds and other loans to contribute to projects in the state’s most congested regions.

Without the use of Express Lanes as a financing tool, the state of Colorado would have had to find an additional $1.27 billion in funds
to deliver these projects. Otherwise, the projects would have been significantly delayed, the scope would have been reduced substantially,
or money would have been reallocated from other projects around the state to fill the funding gaps. Without the use of Express Lanes as
a financing tool, HPTE and CDOT would not have been able to deliver nine projects in five years, totaling more than $3 billion in project value.
Instead, without tolled Express Lanes, CDOT would have been able to deliver one, or possibly two, of the projects, with a value well under
$1 billion.

 Aggressively seek out opportunities for innovative and efficient means of financing and delivering important surface transportation infrastructure projects in the state.

 Impose tolls and other user fees, to issue bonds, and to enter into contracts with public and private entities to facilitate Public-Private Partnerships (P3s).

 Act as an "enterprise"—for purposes of Section 20 of Article X of the State Constitution—as long as it retains the authority to issue revenue bonds, and receives less than 10 percent of its total revenues in grants from state and local governments.

 Operate as a government-owned business within CDOT, but remain overseen by a separate board of directors that includes external stakeholders from four geographic regions appointed by Colorado's governor.

The HPTE Board of Directors consists of three members of the Transportation Commission (TC) and four members appointed by the Governor from each of the following geographic areas: (1) the planning area of the Denver Regional Council of Governments (DRCOG), (2) the planning area of the North Front Range Metropolitan Planning Organization (NFRMPO), (3) the planning area of the Pikes Peak Area Council of Governments, and (4) the I‑70 Mountain Corridor area.

The HPTE Board of Directors generally meets at 10:00 a.m. on the third Wednesday of every month at CDOT Headquarters (2829 W. Howard Place, Denver). These meetings are open to the public under the Colorado Open Meetings Law, and citizens are welcome to attend and participate. HPTE’s enabling statute requires that the Board meet at least eight times per year. In 2018, the HPTE Board of Directors met 10 times.
HPTE Board Meeting agendas, minutes, and documents are accessible on the HPTE Board section of the HTPE website. 

Board Member

Region

Term Expiration

Don Marostica, Chair

NFRMPO Planning Area October 2019

Shannon Gifford, Vice-Chair

Transportation Commission At Commission's will

Karen Stuart 

Transportation Commission At Commission's will

Margaret Bowes

I-70 Mountain Corridor October 2019

Rocky Scott

Transportation Commission At Commission's will

Anastasia Khokhryakova

DRCOG Planning Area October 2021

Travis Easton

Pikes Peak Area COG Planning Area October 2021
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 Helped secure $130 million in federal grant dollars.

 Directly attracted $125 million in private investment.

 Leveraged more than $1 billion of bond proceeds and other loans to contribute to projects in the state's most congested regions.




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