State Approves $56 Million in Alternatively Financed Projects
State transportation officials provided $56 million to be funded by the Texas Dept. of Transportation’s pass-through finance program for four projects including two in Midlothian.
The project funds break down like so: $26.2 million for U.S. 82 in Bowie County; $9.8 million for U.S. 67 at Rail Port Parkway/Miller Road in Midlothian; $2.5 million for Farm to Market 663 at U.S. 287 in Midlothian; and $17.5 million for Loop 463 in Victoria.
Pass-through financing is a tool the state created to stretch transportation funds allowing local communities to fund up-front costs for a state highway project. The state then reimburses a portion of the project costs to the community by paying a fee for each vehicle that utilizes a transportation facility.