Drivers using the east-side E-470 toll road will be pleased to learn that the E-470 Authority Board of Directors for the 47-mile toll road decided Thursday to freeze tolls at 2022 levels during a mid-year review of its finances.

The E-470 Authority is self-funded and doesn’t currently utilize local, state, or federal funding for financing, improvements, operations, and maintenance of the roadway.

E-470 has $1.3B in outstanding bond debt, which is scheduled to be paid off in 2041, according to a news release, .

The release shows that $0.37 of every toll dollar goes toward paying debt service, while the rest is going to operations, maintenance, and roadway improvement projects including preparing for future capital programs and road enhancements.

“People can choose E-470 with confidence because of the Authority’s commitment to providing customers with the best value,” said E-470 Board Chair and Town of Parker Council Member John Diak. “We lowered toll rates at all toll gantries last year for the first time in E-470’s history, while continuing all planned capital projects within the community.

“The E-470 Board of Directors is very proud that we can keep the rates frozen during these volatile economic times, especially as our customers and communities adapt to so many other goods and services increasing in cost.”

The toll rate freeze was supported by all eight voting member jurisdictions, which includes: Diak, Françoise Bergan (City of Aurora), Craig Hurst (Commerce City), Jan Pawlowski (City of Brighton), Bill Holen (Arapahoe County), Chaz Tedesco (Adams County), George Teal (Douglas County), and Tony Unrein (City of Thornton).

E-470 began the year with a unanimous vote from its Board of Directors to freeze 2022 toll rates for all customers.

At that time, the Board committed to continue monitoring the Authority’s financial position into 2023 and reassess toll rates by mid-year to ensure the best overall experience for E-470 customers.

In addition, deeper time of day discounts will also remain in place to help commercial drivers deliver goods and services to customers on time.

When or if rates will go up is uncertain.

“As of now, there are no plans to raise toll rates, but the Board of Directors will continue to monitor E-470’s traffic and revenue and capital project obligations in the future and determine rates based on the financial health of the Authority,” said Jessica Carson, director of Public Affairs, in an email to The Denver Gazette.

Vehicles with three or more axles and an ExpressToll account receive the normal 35% discount toll rate, as well as an additional 20% discount per each additional axle between 9 a.m. and 12 p.m. (during non-peak travel times), and receive an additional 5% discount per each additional axle at all other times on E-470.

The Authority partnered with the Colorado Motor Carriers Association to create this discount in 2020.