photo credit: NTE Mobility Partners
| Location | Dallas-Fort Worth Metroplex |
|---|---|
| Project Sponsor / Borrower | Texas Department of Transportation (TxDOT) NTE Mobility Partners Segments 3, LLC |
| Program Areas |
|
| Mode | Highway / Managed Lanes |
| Description | The approximately $1.64 billion North Tarrant Express (NTE) 35W project is the second phase of the North Tarrant Express. The 10.1-mile project included the reconstruction, widening, and addition of tolled managed lanes (TEXpress Lanes) along I-35W in two segments:
A third segment, Segment 3C, would extend 7.2-miles from U.S. 81/287 north to Eagle Parkway near Fort Worth Alliance Airport. Segment 3C may be added to the project through a change order. Each segment consists of two tolled managed lanes in each direction. In addition, one to two general purpose lanes and new frontage roads could be added to Segment 3A by 2030. On Segments 3B and 3C, additional general purpose lanes, auxiliary lanes or frontage roads are also contemplated by 2030. The NTE 35W has been delivered under a 52-year concession agreement (effective 2009) between TxDOT and NTE Mobility Partners. The private partner designed, built, and financed Segment 3A and will operate and maintain it along with Segment 3B, which was procured under a separate design-bid-build contract. The NTE 35W complements Phase 1 of the NTE, NTE Segments 1 and 2W, which opened to traffic in October 2014 after a four-year construction period under a separate concession agreement with NTE Mobility Partners. Phase 1 included improvements to 6.4 miles of I-820 (Segment 1) and 6.9 miles of SH 121/SH 183 (Segment 2W). |
| Cost | Segment 3A - $1,409 million Segment 3B - $256 million Segment 3C - $662 million |
| Funding Sources | Segment 3A:
Segment 3B:
|
| Project Delivery / Contract Method | Segment 3A - Design-build-finance-operate-maintain Toll Concession (52 years) Segment 3B - Design-bid-build (O&M included as part of concession) |
| Private Partner | NTE Mobility Partners Segments 3, LLC Ownership at financial close
Current ownership (as of June 2016)
Other Private Partners
|
| Project Advisors / Consultants | To TxDOT
To the concessionaire
To USDOT TIFIA JPO
|
| Lenders | Bondholders, USDOT TIFIA |
| Duration / Status | Commercial close (CDA execution) occurred on March 1, 2013. Construction on Segment 3A began in May 2014; substantial completion reached July 2018. Construction on Segment 3B began in April 2013; substantial completion reached December 2016. |
| TIFIA Credit Assistance | Direct Loan - $531.0 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 | The TIFIA credit agreement was executed on September 18, 2013. Financial close for the PABs occurred on September 19, 2013. A cash-funded debt service reserve is available for the senior lien bonds and TIFIA. |
| Innovations |
|
| Related Links / Articles | |
| Contacts | Shawna Russell |
