GOLDEN, Colo. – After failing to convince a few nearby local governments that their plan for a privately operated toll road is flawed, the City of Golden is taking its case directly to the investors who would be asked to underwrite the cost of building the highway.

Golden has sent a detailed letter and 48-page accompanying report to the firms that responded to a Request for Expressions of Interest issued by the Jefferson Parkway Public Highway Authority to build and operate the toll road, which would extend a partial beltway around the Denver area.  Golden also has sent the letter and report to rating agencies and others.

Golden took this unusual step because it is concerned that Jefferson County and the cities of Broomfield and Arvada have become fixated on the fantasy of luring a private investor to underwrite the cost of the Jefferson Parkway.  As a result, these local governments are not focusing on realistic transportation solutions needed to ease the region’s congestion.

The report – researched and written for Golden by CRA International, a worldwide leader in management, economic, and financial consulting – is based on extensive traffic and financial models and concludes that the Jefferson Parkway  would attract few drivers and, as a result, insufficient toll revenues to cover the cost of building and operating the road.

“All available information suggests that the Jefferson Parkway would be an exceptionally bad investment that will not provide any return to investors,” according to the letter from Golden City Manager Mike Bestor.

The city also is posting the research and related information on a new website, www.ReallyBadDeal.org, to ensure broad access to the information.

Golden is so confident of CRA International’s research that the city has offered a total of up to $10,000 to pay for an independent review.   The city will reimburse an independent review for the first political subdivision or investor with whom the city can agree on a mutually acceptable third-party transportation expert. (Specifics of this offer are included in Golden’s letter, which is posted on the website.)

“We’re disappointed that this overall issue has come to this point.  However, we’ve concluded that this may be the only way to inject a dose of reality into this important discussion,” said Golden Mayor Jacob Smith.

Smith added: “The proposed toll road is designed to make the Candelas development viable.  It would encourage sprawl and mar the mountain backdrop.  What it wouldn’t do is address the pressing transportation needs in the area. Until the Jefferson Parkway Public Highway Authority members accept that the numbers for this proposed toll road simply don’t add up, they won’t start focusing on transportation solutions that meet the region’s real transportation needs.”