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April 26, 2012

Cha-ching! Texas clears way for another $2 billion in road work, including I-35W in Fort Worth

The Texas Transportation Commission on Thursday officially added $2 billion to its books, clearing the way for metro areas in the state to begin adding long-delayed road work to their to-do lists for the next couple of years.

The money became available after Texas Department of Transportation officials corrected previous budget estimates, to reflect a declining cost of road contract work and a greater than anticipated availabililty of federal funds and revenue from state bond debt.

About $1.6 billion was portioned out to various parts of the state using funding formulas that take into account factors such as population, and that includes $160 million for the Fort Worth area.

MoneyThe remaining $412.5 million was held back for projects of statewide importance, and Tarrant County could get some of that funding, too.

For example, the proposed makever of Interstate 35W recently qualified for a $415 million federal loan, all but guaranteeing that project will get built by 2018. But that project does still have a funding gap of about $100 million to $150 million, and some of the state's newfound bounty could be used in that manner.

State officials declined to specify how much of the money would go toward I-35W, or which pot the money would come from, saying they first needed to negotiate a funding agreement with NTE Mobility Partners. That group of road contractors that has offered to make the I-35W project part of the current North Tarrant Express project underway on Loop 820 and Texas 121/183 in Northeast Tarrant County.

Those negotiations could take several months.

@gdickson

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Comments

Brianm0122

>NTE Mobility Partners.<

That means toll road.

nortexprog

No new freeways or freeway rebuilds should be done without providing right of way for future rail transit. This freeway will be obsolete and in gridlock in another ten years, and the rail option will be vitally needed then. The rebuilds should be done without frontage roads to keep traffic flowing and not slow access and exit ramps with local traffic at big box stores; frontage roads defeat the transportation aspect of roadways and serve as giveaway economic perks to big business.

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