Transportation Commission Selects NTTA for SH 121 Toll Project
The next step is for the NTTA is to negotiate a project contract with the RTC a process expected to take not more than two months. The NTTA would then have another 45 days to close its financial arrangements.
The SH 121 toll project is a 25.9 mile toll road that will run through Dallas, Collin and Denton counties from McKinney where SH 121 intersects with U.S. 75 west to Lewisville/Coppell near the Tarrant County line.
The NTTA’s proposal provides an upfront payment of $2.5 billion and annual payments over time equal to $833 million in 2007 dollars. The NTTA’s upfront payment and annual payments greatly exceed the amounts provided in a private-sector proposal that had also been considered by the TTC. Additionally, NTTA staff estimates that SH 121 will generate additional revenue of $1.3 billion in 2007 dollars which will be leveraged for future road projects throughout north Texas.
In mid-June the RTC voted 27-10 for the NTTA’s proposal and recommended it to the TTC as the region’s preferred delivery method for SH 121.
“Our promise to our NTTA customers, the citizens of north Texas, the Regional Transportation Council (RTC) and the TTC is that the SH 121 project will be delivered on time, within budget and with the highest NTTA construction and safety standards,” Wageman added.