The T-REX project is a collaboration between the Colorado Department of Transportation (CODOT), the Regional Transportation Board (RTB), the Federal Highway Administration, and the Federal Transit Administration, along with input from Colorado citizens, businesses, and motorists. Endorsed by Colorado voters, the design-build project aims to replace aging highways with more modern, efficient highways, as well as a light rail system. T-Rex will widen 14 miles of I-25 and 4 miles of I-225. The project also includes a new drainage system, the reconstruction of several interchanges and bridges, and improved pedestrian and bicycle access. Ultimately, the project will link the two largest employment centers in the region (the Southeast Business District and the Denver Central Business District). A design-build contract was awarded in June 2001, with construction beginning September 2001.
Financing for the project is provided by both CODOT and the RTB. CODOT will finance $671 million through GARVEE bonds, and approximately $117 million through sales and use tax revenue. The RTD, through a full funding grant agreement, will provide $525 million, as well as $320 million in bond proceeds and $34 million from local funds. A law signed by Governor Bill Owens in 1999 allowed Colorado to use Transportation Revenue Anticipation Notes (TRANS) for budgeting purposes, permitting the project to proceed without having to divert funds from the State's budget.
Construction on the T-Rex project will finish in September of 2006, being completed without any new or increased taxes.