Will the road, aka Texas 121T, ever get built? Latest story.
The North Texas Tollway Authority may need an enormous loan from the federal government to pay for the 161 toll road project east of Arlington. The news won't ease the fears of those who believe the authority, which paid $3.2 billion for the 121 toll road project in Lewisville, and could pay $1.2 billion for 161 in Grand Prairie, has bitten off more than it can chew.
Tollway authority officials confirmed that they may request a loan of $400 million or more to complete the deal. The federal TIFIA loans are highly competitive, and one source says that even when an entity is lucky enough to be awarded a TIFIA loan the funds only cover about a third of a project's cost. ... So even if the tollway authority qualifies for the money, they may be asking for too much.
Alphabet Soup
By the way, TIFIA stands for the Transportation Infrastructure Finance and Innovation Act of 1998. Thanks for another acronym, Congress.
The tollway authority initially planned to use capital appreciation bonds to pay for the 161 project, but poor market conditions have rendered those funds no longer available, tollway executive director Jorge Figueredo said.
Tollway officials originally told North Texas elected leaders they'd decide by June whether to formally accept the 161 project, but have delayed that decision until September. If the authority decides not to build it, the Texas Department of Transportation would then proceed with plans to hire a private developer.
Impact on real people?
Here's the confusing thing: This ongoing question of who should control the 161 toll road project isn't affecting its construction. The road is already being built, using money loaned by the Regional Transportation Council ... which wanted to make sure the road was at least partly open by the time the new Dallas Cowboys stadium opened in Arlington.
RTC expects to be paid back its $200 million-plus investment by whomever eventually takes over the project permanently.
Check in later for more trans news of all kinds from the 2008 Transportation Summit in Irving ...
-- Gor.
pics: stadiumsofnfl.com, worth1000.com
Maribel Chavez, Fort Worth district engineer for the Texas Department of Transportation, was hospitalized Tuesday after being injured in a car wreck Monday night in southwest Fort Worth.
Chavez was injured when another driver ran a stop sign and struck her vehicle, a department spokeswoman said. Chavez's right arm was broken in two places, and she suffered numerous cuts and bruises, but her injuries were not considered life threatening. Doctors at Harris Methodist Fort Worth surgically repaired her arm during a 2 1/2-hour procedure Tuesday afternoon.
Chavez had been scheduled to testify Tuesday during a legislative hearings on toll projects at the Texas Transportation Summit in Irving.
Seat belts could have saved many lives. Latest story. Also, in that story are links to our coverage the past five days.
Each year, more than 1,000 politicians, engineers and other transportation experts get together for a four-day Texas Transportation Summit. I'm covering the event all week, so if you've got a transportation-related question, ask me and I'll track down the person with an answer for you. This year it's at the Omni Mandalay hotel in Las Colinas ... Just about everyone is here ... Members of Congress, state legislators, county commissioners, highway and rail people, Texas Department of Transportation and North Texas Tollway Authority people, DART, the T and Denton County transit ... and consultants out the wazoo!
-- Gordon.
Summit agenda: http://www.2008transportationsummit.com/
Texas 121, the North Texas region's first all-electronic toll road, is becoming a nightmare for many motorists.
READ IT HERE
More problems on North Texas' "all-electronic" toll road. READ IT HERE.
Many question the Texas Department of Transportation's competency. READ MORE