North Texas Tollway Authority waives right to develop I-35E project
The North Texas Tollway Authority (NTTA) board voted unanimously this week to waive their rights to develop the Interstate 35E project between Denton and Dallas, which would have been the largest and most costly project in the organization’s history. Because the project is so expansive, it would not only take NTTA several decades to pay back the loans on the project, but would also require considerable expenses for maintenance and operation costs. Based on the enormous funds needed to sustain a development like this, this waive of rights will allow private bids for the construction project.
Michael Morris, the North Central Texas Council of Governments transportation chief, says regardless of how funds are collected, financial support for an undertaking like this will be a challenge. With $500 million in public money, TxDOT’s role will be to attract private firms to construct the tolled portions of the new project and a small portion of the main lanes. Ideally, the revenue from the upgraded tollway would finance the remainder of the improvements.
Stretching 29 miles, covering two tolled lanes in each direction, two to three frontage roads in each direction and up to four lanes of rebuilt free interstate lanes, this expansion project has been a long awaited improvement for the Dallas to Denton area. By expanding and improving the current infrastructure through privatization, roadways will be improved long term, alleviating congestion and providing support for maintenance costs.
Click here to read more in a Dallas Morning News Transportation Blog post.
Michael Morris, the North Central Texas Council of Governments transportation chief, says regardless of how funds are collected, financial support for an undertaking like this will be a challenge. With $500 million in public money, TxDOT’s role will be to attract private firms to construct the tolled portions of the new project and a small portion of the main lanes. Ideally, the revenue from the upgraded tollway would finance the remainder of the improvements.
Stretching 29 miles, covering two tolled lanes in each direction, two to three frontage roads in each direction and up to four lanes of rebuilt free interstate lanes, this expansion project has been a long awaited improvement for the Dallas to Denton area. By expanding and improving the current infrastructure through privatization, roadways will be improved long term, alleviating congestion and providing support for maintenance costs.
Click here to read more in a Dallas Morning News Transportation Blog post.
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