Increasing Mobility in Central Texas with SH 130, Segments 5&6
The Texas Department of Transportation (TxDOT) knew the state needed more roads to accommodate travelers and truckers. Expanding SH 130 was an ideal solution but funds were not available and TxDOT didn't want the taxpayers to pay the bill for the needed improvements.
We advised TxDOT on the procurement of a P3 to develop, finance and operate SH 130, Segments 5&6. The 41-mile toll road between San Antonio and Austin was developed under a 50-year comprehensive development agreement.
Under this agreement, the private developer provided all of the funding and no local or state funds were utilized to build the roadway. In return, the developer agreed to operate the road, collect tolls and receive a return on its investment, with additional revenues being made available to the state for other projects.
The $1.36 billion project reached financial close in 2008 and opened ahead of schedule in late 2012.
- This project was the first toll concession agreement in Texas history.
HONORS & AWARDS
- "Excellence in Utility Relocation and Accommodation Award" | Federal Highway Administration, 2011
- "Transportation Deal of the Year" | Project Finance magazine, 2008