State transportation officials recently approved 11 projects estimated at $280 million that will be funded by TxDOT’s pass-through finance program.
The Texas Transportation Commission approved the list of projects. Pass-through financing allows local municipalities or private entities to pay for costs to build a transportation project and get reimbursed from the state as the project becomes operational. It lets local officials accelerate projects.
The commission added a provision that limits the liability of TxDOT and partnering public entities in the event of project cost overruns or underruns into all pass-through finance agreements. If any funding is available at the end of such negotiations, other projects will be selected for funding from the program, up to a maximum of $300 million in total state investment.
Contracts will be negotiated and executed with the local entities to determine reimbursement schedules, developed as part of each individual pass-through finance agreement. Pass-through finance agreements help projects get financed and built earlier than traditional funding would allow. TxDOT can consider pass-through finance agreements with a Regional Mobility Authority, regional transportation authority, county, city, public or private entity.
Projects selected for the program include: $14 million for SH 195 and SH 201 in the city of Killeen; $31.3 million for Loop 1604 in Bexar County; $38.2 million for Farm to Market 659 in Camino Real (an RMA project) in El Paso; $15.8 million for State Loop 20/Spur 400 in Webb County and the city of Laredo; $19.1 million for SH 26 in the city of Colleyville; $10.9 million for IH-35 northbound frontage in Williamson County; $15.8 million for SH 36/SH 36 and FM 2004 in Brazoria County; $34.5 million for SH 32 in Cameron County; $10.6 million for RM 1431 in the city of Cedar Park; $70 million for SH 365 for the Hidalgo County RMA; and $20 million for FM1409 in Chambers County.div id="articleExtras"