BROOMFIELD, Colo.—The agency overseeing a northwest Denver toll road has reached a 99-year agreement to lease the highway’s operations to a Portuguese-Brazilian consortium.
The board of the Northwest Parkway Public Highway Authority voted Wednesday to sign the deal with Brisa-CCR, which together operate more than 1,700 miles of toll road in Portugal and Brazil, respectively.
Under the deal, Brisa-CCR will manage the 11-mile toll road, which runs from Interstate 25 in the east to 96th Street near U.S. 136 in the west. It opened in 2003, envisioned as a link to Denver International Airport from the northwest Denver suburbs.
The pact retires all authority bond debt and transfers financial responsibility to Brisa-CCR. It includes $200 million over the term of the lease for authority operating expenses and $50 million in rent.
It also calls for Brisa-CCR to contribute some $60 million if a potential 2.3-mile extension of the toll road to State Highway 128 in Broomfield goes ahead.
The lease agreement is expected to close by Oct. 1.
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