Roundtable Monday - September 28

Greetings!

When: Monday, September 28, 5:30-6:30pm

Where: Kentwood Properties Conference Room @ 17th and Wynkoop (enter from 17th)

Our discussion will include the following:

1. General update on the project, including recent DUSPA happenings.

2. Update on the letter of support regarding the findings of the Symposium.

3. Discussion of the Wynkoop Plazas (this is primarily for the video, as we've discussed this numerous times).

4. Discussion of the upcoming fundraiser gala, A Night In Old Union Station, and the Mizpah arch, which it will fund.

Levi Reeves

Roundtable Director

Reminder: Roundtables are a benefit to USA members. If you are not a member, we would love to have you join! It's simple: sign up through our website at www.unionstationadvocates.org/membership

USA September 2009 News Update

This News Update includes details of a gala event at Union Station in the coming month of October, and the two DUSPA meeting that have taken place this month.

A Night in Old Union Station: A Benefit to Revive the Welcome (Mizpah) Arch

Celebrate the Arch with Honorary Chairmen Mayor John Hickenlooper, Helen Thorpe, and Councilwoman Judy Montero. Join us for this gala event at Union Station on:

October 15, 2009 from 7 to 11 P.M.

Ticket options include:

The Oyster Bar/Patron Level – tickets are $200.00 each. The Oyster Bar will be located on the mezzanine level and will feature reserved table seating, gourmet dining ala Grand Central Station, seafood at the Raw Bar, hors d’oeuvres, wine provided by Dry Creek Vineyards, and family style dinner with New Orleans flavors. There will also be premier seating for the entertainment.

The Main Dining Hall - tickets are $100.00 each. The main Dining Hall is Entertainment Central. It will feature gourmet buffet dining, open seating, with free beer provided by Coors. The theme will be a celebration of international immigration through the Mizpah Arch in the historic first two decades of the 1900s. Food and drink will be contributed by Denver’s finest establishments.

Speakeasy – tickets are $40 each. The Speakeasy will be located in the departure tunnel. Tickets include free beer donated from Coors, and a good light dinner fare. A cash bar will also be available. Sullivans is providing a jazz band that will also play music for tango dancing. Costumes are optional. Flapper attire is encouraged. There will be a prize for the best costume.

For tickets R.S.V.P. to: www.blacktie-colorado.com
R.S.V.P. Code: USA10/15

Also check: www.anightinoldunionstation.com


September 3, 2009 DUSPA Meeting

The meeting opened with Chad Fuller, Senior Financial Analyst for the City, discussing the Plan of Financial Schedule for the project. He stated the RRIF and TIFIA loans seem to be on schedule for approval in November, 2009. The City is reviewing sample financing agreements for the RRIF loan and clarifying eligible costs for this loan. 100% of DUSPA’s costs are considered direct costs.

Alex Brown recapped discussions with the Standard &Poor’s rating request. He stated that S&P asked for more information on seven matters, which have been responded to in a letter. The Credit Committee meets next week and will address these matters. He also talked about addressing liquidity issues during construction. A new financial model to reflect cash needs during construction is being prepared.

Bill Mosher reviewed selected items from a critical issues list, as follows:

- Wewatta Street traffic will be rerouted as of Wednesday September 9th for a 24” water line.
- Amtrak is to sign off on a plan for a temporary station within the Union Station site.
- A state grant to Historic Denver for $133,000 will be used by the project team to assess implications of restoring the historic station. Slaterpaull is the architect firm selected to perform this work. DUSPA will expand upon the scope of this engagement, under the auspices of the Building Evaluation Team Process.
- The interviews for selection of the Public Representative are complete and DUSPA is in negotiation with a candidate. Selection is projected for October, 2009.
- Locations for parking at Union Station are under consideration with Lot G being re-examined first. If Lot G does not work, other options will be considered.
- Maintenance of the site is a pressing issue. RTD will maintain its facilities, but the maintenance of the other areas (including the public spaces) remains unresolved. USNC will need a decision on this matter for development of Lot A.
- The Lot A under-build ramp under track improvements from 16th Street was mentioned as a critical item. Regarding Lot B, Mosher stated that it was important to preserve the option to build over the tracks, which brings the pedestrian bridge in question. Foundations would need to be constructed during track improvements which will occur before any development on Lot B.
- Peer Group Recommendations for the LRT plaza, mid-block (West 17th Street) stairs and the CRT shed were discussed, as follows:
> For the LRT plaza, the changes have been accepted and consideration is being given to the building materials.
> For the mid-block stairs, the major public ingress and egress option is deemed infeasible, but the stairs will be redesigned for improved use.
> For the CRT shed, the design team is looking at the time, design and construction implications of extending the space between columns from 15’ to 30’. Two other changes are altering the shape of the shed from rectangular to oval, and redesigning the beams to be parallel to the train station. Note: A fourth item was added to the Critical Issues List regarding the connection of the canopy to the train station.

Jerry Glick introduced the initiative by Dana Crawford and Union Station Advocates for “A Night in Old Union Station” to be held October 15, 2009 at the station, which will be a fundraiser to re-establish a replica of the Welcome (Mizpah) Arch. A discussion ensued. Bill Mosher stated that he had architects looking into possible locations for the replica. Others posed questions that Jerry and Bill couldn’t answer, so it was suggested that Dana meet with the DUSPA board.


September 17, 2009 DUSPA Meeting

Business items include: The resignation of Peggy Catlin of CDOT from the board and replacement by Rush George of CDOT. The current officers were re-elected: Elba Wedgeworth, President; Jerry Glick, Vice President; and Tom Gougeon, Secretary. It was announced that the Owner Representative Agreement with Trammel Crow has been signed and extends through 2013.

Financial Report: There will be a peer review of the Federal Loans by an independent third party. The RRIF and TIFIA loan applications are in process including completion of the standard form documents. Application for the RRIF loan will be in the magnitude of $200,000,000. The S&P credit rating process is moving forward. The Financial Plan, a legal document, is in development. It addresses funds management and includes a funding matrix showing cash flow, liquidity requirements, revenue sources, and a plan for any surpluses. Timing of debt repayment is addressed. The finance team is also talking to banks regarding terms for a line of credit.

Work on the Union Station Building is to be contracted for separately from work outside the building as only the latter is Federal eligible. The work inside the historic building is being referred to as non-Federal eligible.

Field work on a 24” by-pass water line commenced September 8, 2009, but was halted for some mitigation work. This is not expected to delay the project schedule as it was anticipated.

The Denver Union Station building assessment ($17 Million) is due November 1, 2009.

The final item discussed in the open part of the meeting related to the relocation of AMTRAK to a temporary station at the Light Bulb Supply building for a three year period. AMTRAK is in discussions with the new Ski Train regarding use of this site.


Public Meeting – Transit Architecture Update

The Denver Union Station Project Authority (DUSPA) will hold a public meeting Thursday, October 1, 2009, to present ongoing schematic design work for the project's transit related architectural design features and initial design concepts for the public spaces linking the transit modes . The meeting will be held from 5:30-7:00 PM in the RTD Administrative Office, 1600 Blake Street, in Rooms T&D. The meeting is open to the public.


Union Station Advocates Roundtable

The Roundtables continue to be an effective and engaging meeting allowing our members to have informal discussions on important issues of the Union Station project.

Roundtable meetings are generally held the second and fourth Mondays of each month, and are open only to USA members and their guests. Led by USA board member and architect Levi Reeves, each Roundtable meeting provides the opportunity for attendees to discuss in-depth a topic associated with the Union Station project. A few days before each Roundtable, all USA members will receive an invitation via email for the upcoming meeting with an opportunity to RSVP. The Roundtable committee is currently identifying agenda topics for the next series of Roundtable meetings coming this fall. If you have a suggestion for a Roundtable meeting, please send us an email to info@UnionStationAdvocates.org


Union Station Advocates Is Now On Facebook!

Are you a USA member or just excited about our historic Union Station and its big transformation? Join us on Facebook by being a fan of Union Station Advocates! Here’s a link:

http://www.facebook.com/home.php#/pages/Union-Station-Advocates/43803914945?ref=ts


To download a copy of this newsletter in PDF format, click here.

No Roundtable Monday

Greetings!

We will not hold a roundtable this coming Monday, September 14. Roundtables will resume two weeks later, on September 28. We hope to see you then!

Levi Reeves
Roundtable Director

USA August 2009 News Update

Included in this News Update is a first announcement of a gala event to benefit the re-creation of the Welcome (Mizpah) Arch. Also included are additional comments on the July 23rd Panel Presentation, and reports on two DUSPA meetings and a Peer Design Review meeting.

Save the Date!! October 15, 2009: A Night in Old Union Station Announcement

Famed and photographed, the Mizpah/Welcome Arch framed the entrance to Denver’s Union Station from 1906 to 1931. A new collaborative campaign plans to return a replica of the arch to the area surrounding the proposed rehabilitation of the historic Union Station building.

A fundraiser party “A Night in Old Union Station” will be presented for ticket holders and corporate sponsors on Thursday, October 15, this year. Primary organizer is Union Station Advocates (USA) a 501(c) 3, citizen group dedicated to excellence for the evolving transportation hub in LoDo and the Platte Valley.

The re-creation of the Mizpah Arch has been discussed and a contemporary version was designed by Mario Botta in collaboration with Anderson Mason Dale. Its design triggered a lot of controversy and conversation about the Mizpah Arch and its function and symbolism for the city.

Evan Makovsky of Shames Makovsky Realty Company has been a champion for the reinstallation of the original arch. Large photographs of the monumental entry arch, which was first introduced by Mayor Robert Speer during train travel’s heyday, are featured in Makovsky’s Residence Inn.

“A Night in Old Union Station” festivities will utilize many parts of the historic station with a corporate sponsor “raw bar” repast on the mezzanine, a speakeasy in the train departure tunnel, and conductor tickets are assigned to the Great Hall.

Cuisine from Lodo’s premier restaurants will be donated with the coordination of The Arrangers, Amy Evans of McCormick’s restaurant and John Imbergamo, of the Imbergamo Group. The growing number of restaurant participants include Jax, McCormick’s, Mortons, Gumbos and Bistro Vendome. Beer will be donated by Coors.

The main fare for the festivity scheduled from 7 pm to 11 pm will include troupes of mimes, contortionists, entertainment and palm readers performing throughout the station. Guests are encouraged to don historic attire for a sense of participation in “A Night in Old Union Station”. Prizes for best costumes will be awarded.

The celebration will culminate in the Great Hall historic reception room at the end of the evening. Its open span, 65 foot high ceiling’s architecture will provide for a spectacular finish as planned by Al Kraizer, LoDo Jazz Fest creator, and Charlie Prideaux, producer of Times Square’s annual New Year’s Eve Ball Drop.

Honorary Chairpersons of the celebration are Mayor John Hickenlooper and Helen Thorpe as well as Judy Montero, Councilwoman for Denver’s District 9. For more information, please contact Dana Crawford, Union Station Advocates, at (303)892-1888 or dana@danacrawford.net


Additional Commentary on the July 23, 2009 Panel Presentation

The Executive Summary slides provided in the July issue of USA’s News Update captured the main points of the presentation. An article in the July 16th issue of Westword by Joel Warner entitled “Engine Trouble?” in the paper article and “The plans for Union Station could be off-track” on the Westword website provides additional insight into the status of the project. The article can be accessed at the following web address:
http://www.westword.com/2009-07-16/news/the-plans-for-union-station-could-be-off-track/

Based on the information conveyed in the August 6 and 23, 2009 DUSPA meetings (see following reports), the project appears to be progressing “on-track” with the caveat that both DOT loans must come through before the construction phase commences in earnest.


August 6, 2009 Summary of DUSPA Meeting

Chad Fuller, Senior Financial Analyst for the City of Denver, reviewed the highlights of a financial planning sub-committee meeting. He stated that Scully Capital, financial advisors to the City, had recently reviewed the credit structure for the RRIF and TIFIA loans requests with DOT. He thought the meeting went well and said that Scully was a strong advocate for securing the loans.

Peggy Catlin talked briefly about Senate Bill #1. She stated that, given the continuing changes in the project, the City was advocating for expanding the initial narrow scope of use to a more flexible, wider range of scopes,.

Alex Brown, financial consultant to the City, stated that the project team was re-engaging discussions with Standard & Poors regarding credit assessments for the RRIF and TIFIA loan requests. He stated that the New Market Tax Credit could possibly be used for the project.

Jerry Glick next addressed two agreements under consideration by DUSPA:

-The first was an agreement between RTD and the Federal Government. Bill Mosher stated that DUSPA was not assuming any responsibility for Federal Compliance as that responsibility would defer to the Agencies. The vote regarding this agreement was tabled.

-After several final negotiating points were clarified by Cole Finegan, the second agreement between DUSPA and USNC was approved unanimously, with Tom Gougeon of USNC abstaining.

Bill Mosher then discussed four handouts related to financials:

-Financial Statement in which he highlighted a $700,000 payment by the City to USNC.

-Project Cost Tracking report highlighting a $33,000 historic assessment fee

-Status of the Project Budget

-Budget – adjustments included financing costs up to $1M; snowmelt to zero; vulnerability up from $1M to $2M with the comment that RTD is applying for a $2M grant to cover this cost; AMTRAK payment reduced by $1.5M; and the CML land purchase has been adjusted.

Discussion of the Critical Issues List was deferred to next meeting. Mention was made of an AMTRAK solution and a temporary solution for a ski train.

The Peer Design Review will next meet on August 20th with the train shed as the primary subject. On August 19th there will be a formal public meeting at 3:00 PM at the Webb Building on the urban design for Package 1.

Regarding the selection of a Public Outreach firm, 20 RFQs were sent out, 10 firms responded and three have been chosen for the short list. Interviews will take place next week.

The DUSPA board then moved into Executive session.


August 20, 2009 Peer Review Meeting Summary

Ellen Ittelson and Tyler Gibbs in the Planning Office reviewed the LRT plaza and the ventilation/air intake shafts and how they might be treated. Then they talked a little about how to handle the egress stair from the bus box that comes up in the 17th St. public space and whether that access point could be a full access point and the implications of other elements of the bus facility. They also looked at the location and length of the two moving walks.

The majority of the session was on the main CRT canopy. SOM described a number of potential modifications that could be made in response to comments received. These included creating wider spacing between columns in the 160’ zone behind the historic station, adding braces to the trusses above to handle the loads associated with the greater spans, modifying the shape of the opening in the canopy somewhat (more oval, less rectangular). They also showed some different options for how to suspend the lights, information displays from the trusses crossing the opening (basically an alternate scheme running parallel rather than perpendicular to the tracks). They also discussed the small canopy extensions that cover passengers moving from the main canopy to the historic station and from the main canopy to Wewatta. They did not propose changes to those, but there were still some questions about the current approach. They also brought a sample of the PTF fabric material and the details for how it is stretched and secured by a metal clamp and bolt system. They also talked briefly about paint colors for the steel and will bring samples to the next meeting. The reaction to most of the changes was positive. No one has yet quantified whether there are cost or schedule implications of making any of the changes discussed. The team will be working on those aspects and will report back.


August 20, 2009 Summary of DUSPA Meeting

Main discussion points included:

Status of applications for the RRIF and TIFIA loans and the associated credit rating issue. Current expectation is the loan commitment will occur in November, 2009.

The August 20th Peer Review Meeting – see above report.

The possibility for a ski train. DUSPA had received a formal letter from the company that is pursuing this initiative, Iowa Pacific Holdings. That company has to obtain permission from Union Pacific Railroad for rights to use tracks that he owns. Although favorable to the initiative, DUSPA will wait until the track issue and other issues are resolved before taking a position on this matter.


Union Station Advocates Roundtable

The Roundtables continue to be an effective and engaging meeting allowing our members to have informal discussions on important issues of the Union Station project.

Roundtable meetings are generally held the second and fourth Mondays of each month, and are open only to USA members and their guests. Led by USA board member and architect Levi Reeves, each Roundtable meeting provides the opportunity for attendees to discuss in-depth a topic associated with the Union Station project. A few days before each Roundtable, all USA members will receive an invitation via email for the upcoming meeting with an opportunity to RSVP. The Roundtable committee is currently identifying agenda topics for the next series of Roundtable meetings coming this fall. If you have a suggestion for a Roundtable meeting, please send us an email to info@UnionStationAdvocates.org

To download a PDF of this July 2009 USA News Update, click here.

Roundtable Monday - 10 Best Uses Follow-Up

Greetings!

After our late summer hiatus, we will restart our roundtables this coming Monday. We will have some short discussion on the summer DUS happenings, then follow up with a continuing discussion of the "Ten Best Uses of the DUS South Plazas."

Union Station Advocates Roundtable

Monday, August 17, 2009, 5:30-6:30 PM

Location: Kentwood City Properties Conference Room (17th & Wynkoop)

Levi Reeves

Roundtable Director

Reminder: Roundtables are a benefit to USA members. If you are not a member, we would love to have you join! It's simple: sign up through our website, or just come to the Roundtable on Monday and we will give you information on how to join.

USA July 2009 News Update

This New Update provides synopses of several important meetings that took place this month ending with a Panel Presentation and Discussion on July 23rd organized by Councilwoman Montero to inform the public of the latest developments related to the Union Station Redevelopment Project.

The first entry in this Update is a Q&A exchange. To the best of our ability, USA responds to questions or requests for clarification sent to us via http://www.blogger.com/info@unionstationadvocates.org. However, if we do not know the answers, we pass the queries on to a knowledgeable person within the project team. The following is an exchange via USA:


Questions & Answers

Questions by Ray York, Founder: Rail Passenger USA
Answers by Tom Gougeon, Continuum LLC / Union Station Neighborhood Company

Q. What is the status of the FTA Record of Decision (ROD)? Has one been issued?
A. A Record of Decision was issued last fall, Oct. 18th I believe.

Q. What is the current status and anticipated duration of the ColoRail lawsuit? Is it on the docket? Where can I read the details of the filing?
A. Nothing has been scheduled regarding the Colorail suit. Documents are still being assembled to provide the administrative record and that is the only current activity I am aware of at present. I believe a copy of the suit filed by the ColoRail folks is available on their web site.

Q. Union Station Advocates states in their May 2009 News Update that “Excavation for the transportation components will commence in early June starting at the new Light Rail Terminal site out at the CML and proceeding toward the station.” I’m assuming that this did not happen, and that there is a restraining order or some other legal mechanism in place preventing the start of this excavation. Is this correct?
A. There is no restraining order or injunction in place and none requested yet as far as I know. The construction schedule for the public project (all modes of transportation, associated infrastructure and public spaces) is approximately 4 years. A contract has been executed with the contractor and a Limited Notice to Proceed has also been given. The timing of the start of construction is being affected by the timing of availability of funds from various sources that are part of the overall financing plan. So design and some site work are proceeding, but heavier construction of facilities will not begin until fourth quarter. The construction schedule is roughly from then to the middle/latter portion of 2013.

Q. Do you know if there is a Kiewit LNTP construction schedule available? Does Kiewit have an overall schedule listing the project activities that they responsible for? Is there an up to date milestone schedule available identifying the start and finish dates of the key activities included in the overall 12 year project?
A. Not sure what 12 year schedule he is referring to. Clearly the private development on the five parcels being sold on the site will take longer than the 4 year construction schedule for the transportation project. There is a detailed milestone schedule, but it is being adjusted somewhat to match both timing of receipt of funds from various sources and RTD’s plans for the startup of various corridors connecting to the Union Station hub.

Q. Thanks for taking the time to pass on my questions and forward the reply. I understand that schedules for this type and size of project are subject to many external influences. My current objective is just to get a better snapshot of the current schedule to pass along to my readers. The 12 year schedule (2004-2016) that I was referring to is the overall FasTracks project schedule published by RTD (http://www.rtd-fastracks.com/main_31) on their website. This schedule still shows the Union Station renovation being completed sometime in mid 2012.
A. Not sure I can provide too much more information. The overall FasTracks schedule is only partially relevant for Union Station. DUS needs to be ready to accommodate the West Corridor with new light rail facilities at the DUS hub (they will be completed in 2011 prior to the completion of the West Corridor, still scheduled for 2012 I believe) and to accommodate other commuter rail corridors that will come on line in 2014 and beyond. The Union Station construction schedule currently presumes start of construction this year and completion in 2013. The only schedule issues being reviewed are whether completion may be in July of 2013 or the fall of 2013, depending mostly on when construction commences this year. Kiewit has a detailed schedule and is currently reviewing to match early construction to the availability of funding from various project sources. For more information on that, you would need to contact the Authority’s Owner’s Representative (Trammell Crow Company).


July 9, 2009 Summary of DUSPA Meeting

The main items discussed in the public part of the meeting were the review of the Administrative Budget for DUSPA and a discussion of DUSPA’s intent to contract with a Public Information Consultant (or Consultant Team) to conduct meetings with the public and to develop a DUSPA website. The Public Information Consultant (Team) will report to Bill Mosher. A Request For Information will be sent out in the second half of July and selection will take place in August.


July 16, 2009 Transit Architecture Update

The meeting opened with Bill Mosher (DUSPA’s point man for the project) talking briefly about the transition underway from the previous EOC/USAC process to DUSPA. He mentioned the Design/Build Contract has been executed with Kiewit and that the Peer Review Process is underway. See:

http://www.denverunionstation.org/pdfs/related_activities/PeerDesignReviewWorkPlan_FINAL061109.pdf
for more detail about the Peer members. Bill also mentioned that the transit architecture (train shed, canopies, bus box), which he referred to as the vertical development, was 60% designed. He said the “horizontal” public realm design (pedestrian connections, plazas, etc.) was at 10%. He stated that a series of public meetings would be held in the next three months on the public realm design.

Next Roger Duffy and Kristopher Takacs of SOM presented the latest transit architecture design. Roger stated that the design is segmented into three Design Packages. The first focuses on the LRT to Wewatta, the second on Wewatta to Union Station, and the third on the public realm and the area around the station. A schedule of meetings was shown. Reference was made to the overall site, including 10 discrete development sites, as being 42 acres.

The following presentations addressed the first Design Package (designated as UD 1). It includes the architecture associated with the LRT, CRT, Bus Terminal, 16th St. Shuttle, and the Downtown Circulator. Points made included:

- The mixed-use developments around the site would be low scale to a height of the LRT
- There would be 5 vertical circulation nodes
- There is a 50% coverage requirement over the LRT and CRT tracks.
- The canopy over the CRT is designed to be 21’ in the middle (a 160’ span) rising to 43’ on the north end and 67’ on the south end.
- Based on a meeting with the Peer Review group earlier that day, a design change to the LRT is being considered. The consideration is to cover the LRT and the entrance to the bus box with a boomerang-shaped canopy.

When asked about the station itself, Bill Mosher interjected that DUSPA intended to conduct an Assessment Process in the future that would address Utilities/Services, Historic Improvements and Programming at the station.

Kristopher Takacs addressed responses by the stakeholders to comments/suggestions made by the public over the past several months. Some were under further consideration, many were either tabled for later or rejected.

At the end of the SOM presentation, Ken Haines of Hargraves talked about the upcoming public realm design process. He said key elements of the design are flexibility of use, year-round use, and accommodations for both sunny and shady areas. Hargraves plans to have a schematic design at the 30% completion level by year end.

Copies of the July 16 presentation will be posted on the USA website and blog soon. The next DUSPA update forum is scheduled for October 1, 2009.


July 23, 2009 Summary of DUSPA Meeting

The meeting started with a discussion of the developer’s agreement. Although not public at this point, the agreement will most likely address the take-down timeframes and dollar amounts for the private parcels, and the developer’s responsibilities with regards to the public spaces. The board deferred voting on the agreement until next meeting, which is scheduled for August 6, 2009.

A design change at the LRT resulting from the Peer Review process was discussed. It essentially lowers the glass outbuilding to the level of the bus terminal, which is projected to save on construction costs. Bill Mosher asked for DUSPA to approve the change which they did. They also gave Bill authority to proceed with other changes that all parties agreed to and are cost neutral or a cost savings.

The RFI for the public consultant was sent to 20 firms. A recent article in Westword prompted discussion of media coordination. It was agreed that the Public Consultant would be responsible for coordinating media responses with RTD, the City of Denver and the other public entities involved in the project.

The annual DUSPA meeting will take place on September 17, 2009.


July 23, 2009 Panel Presentation and Discussion

On July 23, 2009, Councilwoman Judy Montero led a meeting at the Oxford Hotel in which a panel of three addressed the current status of the Union Station Redevelopment Project. Mayor John Hickenlooper gave opening remarks about the importance of the project to Denver and the region and introduced the panel, which consisted of: Diane Barrett from the City, Jerry Glick of DUSPA, and Tom Gougeon of USNC. USA will provide more detail in our August News Update, but the following slides presented at the meeting capture the key points (click images to view at full size):










A couple clarifications. The Sources and Uses slide shows $40 million of the $200 million plus that RTD will be investing in the project. This chart doesn’t show the rest, as the rest is used as a stream of lease payments into the future so it can be one of the sources of repayment for the DOT loans and also to improve the shadow credit rating of the financing structure to help lower the cost of getting those loans. So sources of repayment of the loans like RTD lease payments, TIF and the DUS Metro District mill levies are not shown as they repay the loans, but the loans provide the dollars for the construction so are shown as part of the list of uses.

One of the questions asked by the audience following the presentations was: “What is the status of the lawsuit filed against the FTA?” The panel was not at liberty to comment, but a person in the audience later stated in private to the questioner that on Friday, July 17th, the FTA had submitted their responses to the six issues raised in the suit and that a judge had taken them under consideration. The judge may dismiss all, part or none of them.

To download a PDF of this July 2009 USA News Update, click here.