The Texas Transportation Commission today approved a recommendation from north Texas leaders to accelerate improvements to S.H. 121 and 30 other congestion-relieving projects throughout North Texas by pursuing a proposal from the North Texas Tollway Authority (NTTA).
The Transportation Commission authorized the Texas Department of Transportation (TxDOT) staff to enter into a project agreement with NTTA once:
- the Regional Transportation Council (RTC) negotiates with the NTTA on major terms of the project agreement and submits those terms to TxDOT;
- quantification of public benefits anticipated to be derived from the NTTA’s proposal is agreed to by the RTC; and
- NTTA is able to close on all financial transactions necessary to meet its obligations concurrently with or no later than 45 days after the execution and delivery of the project agreement.
Major terms remaining to be negotiated between the RTC and NTTA include:
- the timing and amount of the annual payments;
- enforcement provisions regarding compliance with the toll rate policy, project schedule, payment obligations and other commitments; and
- the length of the agreement.
Prior to approving the RTC recommendation, the commission concluded it helps the state meet its transportation goals to reduce congestion, enhance safety, expand economic opportunity, improve air quality and increase the value of transportation assets.
The action also supports commission strategies to empower local leaders to solve local transportation problems and increase competition to drive down costs.
