- Briefing Room
Dallas-Fort Worth Metroplex
|Project Sponsor / Borrower||
Texas Department of Transportation (TxDOT)
Highway / Managed Lanes
On June 23, 2009, TxDOT awarded two Comprehensive Development Agreements (CDAs - equivalent to public-private partnerships) for the North Tarrant Express (NTE) project to NTE Mobility Partners. The first Concession CDA includes the design, development, construction, finance, maintenance, and operation of 13.3 miles of I-820 (Segment 1) and State Highway (SH) 121/SH 183 from I-35W to SH 121, from north of Fort Worth to just southwest of Dallas-Fort Worth International Airport (DFW) (Segment 2W). The duration of the concession is 52 years.
This $2.12 billion Phase I of the NTE opened in October 2014 after nearly a five-year design and construction period. The project includes the reconstruction, widening, and addition of tolled managed lanes (TEXpress Lanes) along the corridor. The project added two tolled managed lanes in each direction together with new frontage roads on I-820 and SH 121/SH 183 extending east from Fort Worth toward DFW. By 2030, a third tolled managed lane will be added along SH 121/SH 183 and a third general purpose lane will also be constructed on I-820.
The second CDA for Segments 2-4 includes developing master plans for the remainder of the corridors:
As a result of the master planning activities, TxDOT and the concessionaire entered into a Facility Agreement to construct Segment 3A and operate and maintain this segment as well as Segment 3B, which was constructed by TxDOT. Construction of Segment 3C is under negotiation as of early 2019. Segments 3A, 3B, and 3C are known as the NTE 35W project.
When all phases are completed, the NTE will comprise 31 miles of managed lanes.
Private Activity Bond Proceeds - $398 million
TIFIA Loan - $650 million
Public Funds - $594 million
Equity Contribution - $426 million
TIFIA capitalized interest - $54 million
|Project Delivery / Contract Method||
Design-build-finance-operate-maintain Toll Concession (52 years)
NTE Mobility Partners, LLC
Ownership at financial close
Current ownership (as of September 2017)
|Project Advisors / Consultants||
To the concessionaire
To USDOT TIFIA JPO
Bondholders, USDOT TIFIA
|Duration / Status||
Commercial close (CDA execution) occurred on June 23, 2009
|TIFIA Credit Assistance||
Direct Loan - $650.0 million
The TIFIA loan will be repaid with project revenues, which include all income, tolls, revenues, rates, fees, charges, rentals, or other receipts derived by or related to the operation of the project.
|Financial Status / Financial Performance||
TIFIA credit agreement was executed on December 16, 2009
A cash-funded debt service reserve is available for the senior lien bonds and TIFIA.
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