2007 Regional Toll Revenue (RTR) Funding Initiative |
In 2007, the 80th Texas Legislature passed Senate Bill 792, redefining the way toll projects are delivered throughout the state and creating a process through which the market value of a project is determined. Following the 80th session, TxDOT, NTTA, and NCTCOG
worked together to develop SH 121, a critical corridor in
Collin, Dallas, and Denton counties. On November 30, 2007,
the agencies announced the financial close on a $3.2 billion
project agreement that allowed NTTA to complete construction
of the 26-mile corridor, as well as operate and maintain the
road for the next 52 years. The transfer of SH 121 to NTTA
will come after many years of successful work by TxDOT to
develop and construct the initial main lanes and frontage
roads. The $3.2 billion upfront payment also provided funding for the Regional Toll Revenue initiative, an account that will help speed construction for numerous projects throughout the Dallas-Fort Worth region. By advancing projects by many years, the region can help offset rising construction costs that are contributing to the transportation financial crisis. The links below represent the steps taken to announce the initiative and select the projects to receive funding. Contact: Adam Beckom, phone: 817-608-2344 or abeckom@nctcog.org. |
