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June 23, 2009

 

Comprehensive Development Agreements for Texas’ North Tarrant Express Executed (CORRECTED)

Construction expected to begin late next year and open to traffic in 2015

AUSTIN - Texas Department of Transportation (TxDOT) officials executed a comprehensive development agreement (CDA) today with the NTE Mobility Partners (NTEMP) to plan, finance, design, construct, operate and maintain 13 miles of Northeast Loop Interstate 820 and SH 121/183 (Airport Freeway) from Interstate 35W to the SH 121 split in Tarrant County.

For a state investment of approximately $570 million, these improvements will provide $2 billion of needed infrastructure to the Fort Worth area, as well as operations and maintenance over the next 52 years, valued at $450 million. In addition, a second CDA was executed under which NTEMP will provide financial and development plans to improve the rest of the corridor. The CDAs were conditionally awarded by the Texas Transportation Commission to NTEMP on January 29, 2009.

“Execution of this agreement brings the North Texas region one step closer to reduced congestion, improved air quality and speedier access to the Dallas-Fort Worth International Airport,” said Texas Transportatio Commissioner Bill Meadows. “Local and regional leaders played a major role in the success of this agreement. The NTE project is a testament to the benefits of private sector involvement and partnerships among all levels of government.”

Prior to execution, the contracts were reviewed by the Texas Legislative Budget Board and the Texas Attorney General’s Office. In addition, TxDOT staff reviewed financial information related to the agreement with members of the community at a public hearing in Fort Worth and shared its traffic and revenue report for the project with the State Auditor’s Office.

“On behalf of NTE Mobility Partners which includes Meridiam Infrastructure and the Dallas Police and Fire Pension System, we are honored to work alongside the visionary state and local leaders to create world-class safe and reliable traffic congestion relief for Texas motorists,” said Jose Lopez, president of Cintra US, which is based in Austin.

More information about this project is available at www.txdot.gov, keyword North Tarrant Express.