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US-183S Bergstrom Expressway

The US-183S Bergstrom Expressway Project is an 8-mile toll facility located in the City of Austin, TX, in the US-183S corridor.
Project Type: 
Roadways and Bridges
Sponsor / Borrower: 
Central Texas Regional Mobility Authority
Credit Agreement Status: 
Active
TIFIA Assistance: 
$282.221 million
Primary Revenue Pledge: 
Project Revenues
Duration / Status: 

Commercial close was reached on November 18, 2015. Construction is set to begin in early 2016 and is expected to be complete in late 2019.

Fiscal Year Closed: 
FY2016
Project Description: 

The US-183S Bergstrom Expressway Project is an 8-mile toll facility located in the City of Austin, TX, in the US-183S corridor.  The Project consists of six tolled main lanes and four to six non-tolled travel lanes which will run through the heart of Austin.  Approximately seven miles of the overall eight miles will be tolled.

The purpose of the Project is to improve the network around Austin and to effectively and expeditiously address increased transportation demands resulting from rapid development in the region.  Once completed, the Project will be a vital north-south thruway that parallels both I-35 and SH-130, and serve as an alternative route to the heavily congested I-35 expressway through Downtown Austin, which will relieve traffic congestion throughout the region.  US-183 not only links commuters from several cities into downtown Austin but is also one of three highways that provide access to the Austin-Bergstrom International Airport, which served over 10 million passengers last year.  In its current configuration, with numerous at-grade intersections, US-183 is limited in its mobility and operational benefits which could be maximized by a more complete roadway network.

In addition to the road improvements, the Project also includes: two tolled direct connect flyovers that will link eastbound SH 71 to northbound US 183 and southbound US 183 to westbound SH 71; a new 5-foot bike lane on each side of the project; a 10-foot shared use path, and a 6-foot to 10-foot sidewalk.  Approximately $25 million of the total project costs is allocated for the construction of new non-tolled improvements that benefit pedestrians and cyclists.

Funding Sources: 
  • Senior Bonds: $366.8 million

  • TxDOT Grant Funds (Parity): $147.8 million

  • TxDOT SIB Loan (Parity): $30 million

  • TxDOT TELA Loan: $30 million

  • TIFIA Loan: $282.221 million

  • Project Interest: $2.779 million

Project Delivery / Contract Method: 

Design-Build

Project Advisors / Consultants: 

To USDOT TIFIA JPO:

  • TIFIA Financial Advisor – The Louis Berger Group

  • TIFIA Legal Advisor – Skadden, Arps, Slate, Meagher & Flom LLP

Project Lender(s): 
Bondholders, TxDOT, USDOT TIFIA
TIFIA Credit Assistance Detail: 

Direct loan: $282.221 million. 

The TIFIA loan will be repaid through Pledged System Revenues.

Financial Status: 
The TIFIA credit agreement was signed on November 18, 2015. TIFIA loan repayments begin in July 2024 (Interest Only) and July 2025 (Interest and Principal commences) with final repayments expected in July 2049.
Innovations: 
  • TIFIA Loan is secured by a subordinate lien pledge on CTRMA’s system revenues

Project Contacts: 

Mike Heiligenstein – CTRMA, Executive Director

Bill Chapman – CTRMA, Chief Financial Officer

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