Congratulations to the Texas Department of Transportation on Award for North Tarrant Express Segment 3C
We would like to congratulate the Texas Department of Transportation (TxDOT) for being recognized with an IJ Global award for the North Tarrant Express Segment 3C project, which received “Americas Project of The Year” honors in the roads category. IJ Global provides market leading intelligence for the energy and infrastructure finance industry, and its annual awards recognize market leading projects in the industry across the globe.
For the project, Nossaman served as lead outside counsel to TxDOT in an exclusive negotiation with the NTE Segments 3A & 3B developer to add a $750 million expansion segment to the P3 agreement. We advised TxDOT on legal authority to proceed by negotiated change order under federal and state law, negotiating strategies, alternatives analysis and numerous commercial and financial negotiating issues, and prepared a change order agreement and amended and restated concession agreement. The parties achieved commercial and financial close in 2019, with a private activity bond and equity financing structure. The project is now under design and construction.