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.
The 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.