The Texas Transportation Commission approved an order at a Jan. 28 meeting to support the North Texas Tollway Authority in its efforts to construct State Highway 161 in Dallas County and Southwest Parkway in Tarrant and Johnson counties.

The commission agreed to back NTTA with a line of credit that would be available if help is needed to make payments on the bonds that will be issued to pay for the new projects. The order was necessary to move the issue forward because NTTA would not be able to afford to build these roads without help from the state.

Texas Transportation Commissioner William Meadows reminded the commission and the state of the dire need for these two projects. “If we don’t provide this transportation infrastructure, we as a state will fail...” he said.

Meadows stated he remains optimistic and believes that those involved in the projects are extremely focused on getting them delivered. “It really is an encouraging, hopeful and very productive environment that these people have created,” he said.

Revenues from the projects are expected to sufficiently pay off the debt, but the backing from the state's highway system would provide a protection for lenders and reduce NTTA's financing costs. The line of credit from the state will likely give NTTA a much higher credit rating on the bond market, raising about $400 million more for the project through bond sales than otherwise possible.

Commission Chair Deirdre Delisi expressed the need for as many funding options as possible to allow TxDOT to deliver infrastructure projects across the state.

“There is only so much capacity we have for these projects…this elevates the need to make sure all the tools that have been given to us over the years remain with us, and the ones suspended or taken away are returned so that we can be more creative, more innovative…” Delisi said following the funding discussion of SH 161 and Southwest Parkway.

The commission will vote Feb. 25 on a final agreement to extend the line of credit for these two projects.

For more information, click to read the articles below:
Dallas Morning News: NTTA moves closer to funding for State Highway 161, Southwest Parkway
Fort Worth Star-Telegram: Southwest Parkway and Texas 161 toll road projects clear big hurdle