Wednesday, June 6, 2007

NTTA proposes having 121 built by 2012

By Danny Gallagher, Staff Writer - Plano Star - Sunday, June 03, 2007
The proposal for the North Texas Tollway Authority submitted Friday to the Regional Transportation Council said it can have State Highway 121 built in five years.

The 1,000-plus-page proposal, released by the NTTA on Friday, proposes splitting the construction of the roadway into four segments and completing the entire project by 2012 if the state awards the NTTA the construction project.

Construction would take place between Denton Creek and Hillcrest Road, Hillcrest Road and Watter’s Road, Watter’s Road and east of the U.S. 75 intersection and the Dallas North Tollway and the SH 121 interchange. The total design phase for the project would take place between July 1, 2007, and Feb. 20, 2008, and the total construction phase would take place between Nov. 9, 2007, and March 20, 2012, according to the proposal.

The NTTA would also continue to maintain and inspect the road for the next 50 years. They would conduct annual inspections every September until 2057, and handle maintenance procedures on the roadway such as joint sealing, “moderate” pavement repair, overlay, sign refurbishing, pavement markings, and landscaping and irrigation management, according to the proposal.

Financing for the project remained the same as earlier estimates stated in presentations given to the RTC and at NTTA board meetings. NTTA said financing the project as part of the Dallas North Tollway system would include an upfront payment of $2.5 billion at the financial close and $833 million in guaranteed payments for a total of $3.3 billion.

The NTTA also said it would be able to provide a lower overall cost, and greater flexibility to respond to “shifting needs, priorities and requirements that should arise over the next 50 years,” according to the proposal. They also included several offers such as a board resolution that adopts the Texas Department of Transportation/RTC toll policy as the maximum rate for SH 121, an agreement to fund an escrow with $75 million upon acceptance of the proposal, and a commitment from a “AAA-rated” financial institution to provide $3.5 billion to ensure a financial close.

It also reiterated earlier claims that it would be able to keep the funds in local pockets.

“Every penny of cash flow generated from the SH 121 project for the next 50 years will remain in North Texas to fund regional mobility needs,” the report said
Read more
Posted by at
Labels: , , , , , , , , , , , , ,

Fair Use

FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. Material from diverse and sometimes temporary sources is being made available in a permanent unified manner, as part of an effort to advance understanding of the social justice issues associated with eminent domain and the privatization of public infrastructure. It is believed that this is a 'fair use' of the information as allowed under section 107 of the US Copyright Law. In accordance with Title 17 USC Section 107, the site is maintained without profit for those who access it for research and educational purposes. For more information, see: http://www.law.cornell.edu/ To use material reproduced on this site for purposes that go beyond 'fair use', permission is required from the copyright owner indicated with a name and an Internet link at the end of each item. [NOTE: The text of this notice was lifted from CorridorNews.blogspot.com]

See ARCHIVE on side bar

Content is being archived weekly. Many pertinent articles regarding Transportation in the DFW Region are in the archives.

A government big enough to give you everything you want, is strong enough to take everything you have. - Thomas Jefferson

The Opnions On this Site are Diverse

DFW Regional Concerned Citizens attempts to examine issues from all directions. When a story says "By Faith Chatham" it contains my viewpoint. When it is by others, but posted by Faith Chatham, it is from someone else's viewpoint. When I discover contents which is on topic for this site, I frequently link to other sites. Usually those sites contain content which differs from my viewpoint (and frequently that of other members of DFW-RCC).