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U.S. DOT Selects North Tarrant Express for $415M Loan

TxDOT News Release – April 24, 2012

AUSTIN – The North Tarrant Express project in Texas is in the final stage to receive $415 million under the federal government’s Transportation Infrastructure Finance and Innovation Act (TIFIA) financing program, advancing a project that will address safety and congestion. The North Texas project includes improvements to sections of I-35W and construction of an interchange at I-35W and I-820. In addition, the project develops multimodal managed lanes to serve the region’s public transportation needs. The Texas Department of Transportation has requested $537 million in Fiscal Year 2012 TIFIA credit assistance for the project.

TxDOT has planned extensively with local partners for I-35W improvements, while aggressively seeking a funding award. Construction could begin in 2013, subject to a final agreement with TxDOT’s project partners, and subsequent determination of legal sufficiency by the Attorney General and Legislative Budget Board approval.

“The North Tarrant Express project leverages federal investment with significant state and private contributions,” said Phil Wilson, TxDOT executive director. “This public-private partnership will improve the entire I-35 corridor and the ability to transport goods and services throughout the nation.” The Tom Warne Report