CorridorWatch.org - Challenging the Wisdom of the Trans-Texas Corridor.

[prepared text presented by Arnold Romberg]

I speak this afternoon as a representative of CorridorWatch, a citizen’s organization with members in 199 urban and rural counties across Texas.

CorridorWatch supports a moratorium on Comprehensive Development Agreements.

We applaud Senator Nichols for advancing this opportunity to step back from the rush to execute public-private partnership agreements. This bill will give the public and the legislature a chance to consider both the benefits and pitfalls of these agreements.

Numerous experts have told us and the legislature that the cost of money offered in these CDA deals is substantially higher than necessary. This week in fact an article appearing in Pension and Investment Magazine tells investors that those who move first will reap the largest returns. Those large returns will ultimately be paid by consumers. Moreover, those excess revenues will be forever lost to reinvestment into transportation projects.

Another area of grave concern is that of non-compete or any limitation on the future construction or expansion of transportation facilities. It is impossible to anticipate this state’s future needs as far out as 50 years. By example, just a few short years ago no one could have anticipated the explosive growth we see today in the North Texas area of Frisco.

We believe the citizens of Texas will be best served by legislative review and a cautious approach to long-term contracts that will rob our communities of future transportation funds, limit future transportation alternatives, and unnecessarily increase the cost of public mobility.

Agreements that are fair and equitable to all parties can withstand the light of day and the test of time. HB-1892 will give the citizens and the legislature both, light and time to make that determination.

Thank you for the opportunity to speak today and your consideration.