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CASE STUDY NAME: Texas State Highway 130 « back
Location Central Texas
PPP Option Design-Build (Comprehensive Development Agreement)
Mode Tollroad
Description

The new SH 130 is a 49-mile tollway extending from Interstate 35 north of Georgetown southward to U.S. 183 southeast of Austin, passing though Williamson and Travis Counties. The project is expected to be completed by December 2007. SH 130 will be a four-lane roadway with toll facilities and major interchanges at I-35, U.S. 79, SH 45 North, U.S. 290 and SH 71. The design of SH 130 will also include limited and discontinuous frontage roads.

The northern 49 miles of SH 130 is the largest element of the Central Texas Turnpike System, 2002 Project. The 2002 Project also includes SH 45N and the Loop 1 Extension. For more information on the CTTP, investor

Project Sponsor

Texas Turnpike Authority / Texas Department of Transportation

Cost $3.66 billion for entire Central Texas Turnpike Program
Type of Finance

Financing for the entire Central Texas Turnpike, of which SH 130 is a component is as follows

  • Senior bond proceeds:   $1,367.8*
  • TIFIA loan:                           916.8
  • State funds:                         700.0
  • Local grants:                        511.7
  • Investment income:             163.6

          Total:                               $3,659.9

Revenue Sources Toll revenues
Project Delivery / Contract Method Design-Build (Comprehensive Development Agreement) for SH 130
Private Investor Partners

NA

Other Private Partners

Lonestar Infrastructure LLP, Design-Builder

Lone Star Infrastructure is a consortium of engineering and construction firms with world-wide experience specifically organized to deliver SH 130. Organized as a joint venture between Fluor Corporation, Balfour Beatty Construction and T.J. Lambrecht Co., the LSI team includes more than a dozen firms specializing in design engineering, utility relocation, public outreach and environmental planning.

Project Advisors Nossaman, Guthner, Knox & Elliott, LLP
Lenders TIFIA program, bond holders
Physical Status

The entire Central Texas Turnpike project had been scheduled to open in phases beginning in September 2007, with all work complete by December 2007.

On June 8, 2006, Texas Governor Rick Perry announced that 40 miles of turnpike will open in Fall 2006, nearly one year ahead of schedule and more than $400 million under budget. The early opening will include 29 miles of SH 130, eight miles of SH 45 North, and the entire length of the Loop 1 extension. The revised cost estimate is $3.224 billion, $436 million less than the initial budget of $3.660 billion.
Financial Status

Financial Close July 25, 2002 for entire Central Texas Turnpike Program

Of the approximately $2.2 billion in capital market debt issued at financial close, $900 million were issued as low interest Bond Anticipation Notes (BANs) maturing in 2007 and 2008. As the BANs become due, the TTA can retire them by drawing down the TIFIA loan, by selling additional long-term bonds, or via any other available funds. Assuming TTA draws the TIFIA loan, payments of principal and interest would begin in 2010. The final maturity of the loan is scheduled for 2042.
Innovations

State Highway 130 is a project of the Texas Department of Transportation and is the state's first highway to be developed under a Comprehensive Development Agreement, allowing the work of property acquisition, design and construction to be undertaken simultaneously.

Related Links / Articles

Comprehensive Development Agreement (CDA) Procurement Process Model

This report provides a process model for procuring an Exclusive Development Agreement (EDA). Supportive information is provided related to task breakdown, targeted durations, and associated lessons learned. This document includes findings primarily from the State Highway 130 (SH 130) project, but it also incorporates some findings from the State Highway 45 Southeast (SH 45 SE) project, currently underway within the Austin District.

Essential Elements of CDA Master Contract

This report includes an overview of CDA Master Contract elements, a matrix of fundamental differences between CDA versus traditional contracting, and a set of lessons learned pertaining to contract clauses.  It also summarizes an analysis of selected clauses focusing on guidance to project practitioners.

Monitoring and Evaluation of SH130 Project Construction: 2004 Annual Report

This report provides a summary of the breakdown of the Comprehensive Development Agreement (CDA) procurement phases with durations and duration drivers, as well as lessons learned.  It also documents essential contract clauses and significant differences between CDA and traditional design-bid-build contracting, as well as the organization structure of the project.

Organizational Structures and Communications on the SH 130 Project

This report analyses the organizational structures and communication flows for the SH 130 project. A set of guidelines pertaining to team organization and communication improvement and the design-build environment is also included.

Plan for Performance Benchmarking of SH 130

This research report contains performance benchmarking program. It lays out the benchmarking methodology and identifies input and output parameters to be included in the benchmarking of SH 130.

Contacts

Lone Star Infrastructure
1421 Wells Branch Parkway, Building 2, Suite 200
Pflugerville, Texas 78660

Phone: 512-681-6000
Fax: 512-681-6001
Email: info@sh130.com

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