The Northwest Parkway's transition to foreign-owned management should be invisible to drivers on the financially ailing toll road.

The Brisa Auto-Estradas de Portugal and a Brazilian partner plan to use the same private contractors for operations and maintenance that are currently in place when the deal with the Northwest Parkway Public Highway Authority closes Nov. 1.

But Brisa can raise tolls by another dollar over the next two years, increases that already were in the parkway's financial plan. Afterward, the agreement allows annual toll increases according to a formula, with a minimum of 2 percent a year.

Brisa on Wednesday signed a $603 million deal with the authority to take over the nine-mile toll road for 99 years.

The tollway opened 3 1/2 years ago. It forms a segment of the metro beltway from E-470 at Interstate 25 near 160th Avenue through Broomfield and Lafayette, ending just before meeting U.S. 36 at Interlocken Loop.

Traffic and toll revenues never reached the optimistic levels builders anticipated, and financial analysts projected serious problems if things continued that way. That prompted the authority to shop around for a takeover partner.

Brisa agreed to pay off the parkway's $503 million in bonded debt, and is putting aside up to another $100 million for future use.

It will release $40 million of that amount for any purpose the authority deems fit if the toll road is extended several miles south to Colorado and on to Colorado 93 at 64th Avenue north of Golden by 2020.

And in that case, Brisa also will contribute $60 million toward the construction of the segment to Colorado 128 and make it part of the toll road.

The longer extension to Colorado 93 is a state project currently in the environmental study stage. One idea is to continue through Golden and link to C-470, completing the beltway circle.

Golden says it would split the city in two and strongly opposes it.

This is Brisa's first entry into the United States. It is looking for other projects here after operating toll roads in Portugal and South America.

"This agreement is a big first step," said Joao Azevedo Coutinho, CFO and director of Brisa's International Division. "We now look ahead to forging local partnerships with commuters and the surrounding communities along the parkway."

The authority, formed by Broomfield, Lafayette and Weld County, vowed to monitor Brisa's control.

"We anticipate they will operate and manage the Northwest Parkway with the highest professionalism," said Broomfield Mayor Karen Stuart, authority chairwoman.

The authority owes about $30 million to Broomfield, Lafayette, Boulder County and Weld County and Interlocken metro district for loans they made before the highway opened in 2004.

Here's the deal

$603 million is the amount of the 99-year deal that Brisa Auto-Estradas de Portugal and a Brazilian partner signed Wednesday with the Northwest Parkway Public Highway Authority.

• Nine miles is the length of the toll road that opened 3 1/2 years ago.

flynnk@RockyMountainNews.com or 303-954-5247