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Location |
Dallas-Fort Worth Metroplex |
Project Sponsor / Borrower |
Texas Department of Transportation (TxDOT) |
Program Areas |
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Fiscal Year Approved |
Fiscal Year 2009 |
Mode |
Highway / Managed Lanes |
Description |
On June 23, 2009, TxDOT awarded two Comprehensive Development Agreements (CDAs - equivalent to public-private partnerships) for the North Tarrant Express project to NTE Mobility Partners. The Concession CDA for Phase 1 includes the design, development, construction, finance, maintenance, and operation of 13 miles along Interstate (IH) 820 and State Highway (SH) 121/SH 183 from IH 35W to SH 121, from north of Fort Worth to just southwest of Dallas-Fort Worth International Airport. The duration of the concession is 52 years. The existing highway includes two general purpose lanes in each direction. Proposed improvements include three general purpose lanes in each direction with two managed lanes in each direction for a total of ten lanes with frontage roads for future traffic volumes. The CDA for Segments 2-4 includes developing master plans for the remainder of the corridors along SH 183 from SH 121 to SH 161, IH 820 east from SH 121/SH 183 south to Randol Mill Road, and along IH 35W from IH 30 to SH 170 in Tarrant and Dallas counties, as well as other facilities for connectivity, safety, and financing. When all phases are completed, the Project will comprise 36 miles of managed lanes. |
Cost |
$2,047 million |
Funding Sources |
Phase 1: |
Project Delivery / Contract Method |
DBFOM (design, build, finance, operate, and maintain) |
Private Partner |
NTE Mobility Partners, LLC (the Concession Company)
Other Private Partners
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Project Advisors / Consultants |
J.P. Morgan Securities, Inc. - Financial Advisor To USDOT TIFIA JPO
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Lenders |
Bondholders, USDOT TIFIA |
Duration / Status |
Commercial close (CDA execution) June 23, 2009 |
TIFIA Credit Assistance |
Direct Loan: $650.0 million The TIFIA loan will be repaid with project revenues, which include all income, tolls, revenues, rates, fees, charges, rentals, or other receipts derived by or related to the operation of the Project. |
Financial Status / Financial Performance |
TIFIA credit agreement executed on December 16, 2009 |
Innovations |
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Related Links / Articles |
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Contacts |
Mohammad Al Hweil, P.E. Belen Marcos |