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Challenging the Wisdom of the Trans Texas Corridor.
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121 toll road deal may be days away NTTA board approves $3.3 billion bid for 50-year contract July 26, 2007 By MICHAEL A. LINDENBERGER / The Dallas Morning News A final deal on the State Highway 121 toll road is only "days away," regional transportation officials said Wednesday. As a preliminary step, the North Texas Tollway Authority board voted Wednesday to accept a broad outline of terms that form the basis of a more-detailed agreement over toll rates, construction timelines and other details associated with the 26-mile toll road. The preliminary agreement approved Wednesday calls on the NTTA to make a $3.33 billion upfront payment to the state in return for the right to build Highway 121 and collect its tolls for the next 50 years. The plan calls on the Regional Transportation Council to use that upfront money to tackle other needed road projects in Dallas, Collin, Denton and Tarrant counties. Once the agreement is completed and signed by the NTTA and RTC, it will be sent to the Texas Department of Transportation for final approval. After that, NTTA will have 45 days to close its financing and present the $3.3 billion check or the deal will terminate, according to officials familiar with the process.
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This Page Last Updated: Monday August 27, 2007