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NTTA to Finance Construction of Chisholm Trail Parkway  Agreement, in Combination with TxDOT, Allows Project to Clear Last Hurdle
After decades on the drawing board, the Chisholm Trail Parkway corridor is in the final stages of becoming a reality. At its October work session, the NTTA Board of Directors approved the sale of the bonds for Chisholm Trail Parkway funding and voted to add the Chisholm Trail Parkway to the NTTA Special Projects System. The Board also approved a toll equity loan agreement (TELA) with the Texas Department of Transportation. Board actions today represent the last steps leading to construction of the entire Chisholm Trail Parkway.
“The drivers of Fort Worth have waited for this much-needed thoroughfare. Today’s green light by the Board allows the project to move into full construction,” said NTTA Chairman Kenneth Barr, “the successful collaboration with TxDOT demonstrates our shared commitment to delivering a north-south corridor in Tarrant and Johnson counties with the promise of improved mobility and accelerated economic development.”
The Chisholm Trail Parkway and President George Bush Turnpike Western Extension (State Highway 161) are part of the NTTA’s Special Projects System. Through an innovative financing model that packaged Chisholm Trail Parkway and SH 161, the two projects will share resources to expedite delivery.
"Forty plus years in the making, the will of the people has remained steadfast that Chisholm Trail Parkway be built to improve mobility and expand economic development, and it is finally coming to fruition," said TxDOT Commissioner Bill Meadows. "As this vital corridor gets underway, I am excited about the opportunities ahead for North Texas and the western side of the Metroplex, and I am proud of the strong partnership of NTTA and TxDOT to work with community leaders to deliver this billion-dollar, 28-mile parkway."
The actions by TxDOT and NTTA are a milestone in the corridor’s development and will link other projects already underway by the agencies. NTTA is constructing the improvements for Chisholm Trail Parkway over the UPRR Davidson Rail Yard and Hulen Street in Fort Worth. TxDOT is constructing $147 million in mobility improvements at I-20/SH 183 in Fort Worth and U.S. 67 in Cleburne to accommodate future interchanges with the Chisholm Trail Parkway.
The Chisholm Trail Parkway is a 27.6 mile toll road that will extend from the Fort Worth central business district south to Cleburne relieving congestion on Interstate 35, SH 174, FM 1187, Bryant Irvin Road, Hulen Street and other roadways. The corridor is a collaboration between the NTTA, TxDOT and the North Central Texas Council of Governments; Federal Highway Administration; Tarrant and Johnson counties; the cities of Burleson, Cleburne and Fort Worth; the Fort Worth Transportation Authority and the Union Pacific Railroad. The entire project is expected to open to traffic by mid-2014.
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