Dallas-Fort Worth Metroplex
|Project Sponsor / Borrower||
Texas Department of Transportation (TxDOT)
NTE Mobility Partners Segments 3, LLC (the Concession Company and TIFIA borrower)
Highway / Managed Lanes
As a result of work performed under a predevelopment agreement, a 52-year concession agreement (effective 2009) between TxDOT and NTE Mobility Partners was executed on March 1, 2013 to design, build, finance, operate, and maintain Segment 3A and operate and maintain Segment 3B of the North Tarrant Express (NTE) in the Fort Worth, Texas region. TxDOT will deliver Segment 3B on a design-bid-build basis before turning over operations to NTE Mobility Partners. Together these two segments comprise 12 miles of highway and managed lane improvements to I-35W as part of the overall 36-mile NTE network. NTE Segments 1 and 2A, the first two segments of the six-segment network of managed lanes to be advanced, opened to traffic in October 2014 after a four-year construction period under a separate concession agreement with NTE Mobility Partners and included improvements to I-820 (Segment 1) and SH 121/SH 183 (Segment 2A).
Segment 3A includes construction of two managed lanes in each direction and improvements to approximately 6.5 miles of I-35W from north of I-30 near downtown Fort Worth to north of I-820, including the I-35W/I-820 interchange. Existing frontage roads, bridges, and overpasses will be reconstructed. Bridges and overpasses, interchanges, and ramps will also be reconstructed. The interchange with I-820 at the western extent of Segment 1 will be reconstructed and include direct connectors between the two segments' managed lane components.
Segment 3B includes construction of two managed lanes in each direction and improvements to approximately 3.6 miles of I-35W from north of I-820 (joining Segment 3A) to north of US 81/287. Frontage road reconstruction, auxiliary lanes, and managed lane direct connectors with US 81/287 are also included.
Segment 3A - $1,397 million
Segment 3B - $244 million
|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)
NTE Mobility Partners Segments 3, LLC (the Concession Company)
Other Private Partners
|Project Advisors / Consultants||
To the Public Sector Sponsor
To the Borrower
To USDOT TIFIA JPO
Bondholders, USDOT TIFIA
|Duration / Status||
Commercial close (CDA execution) occurred on March 1, 2013.
Construction on Segment 3A began in May 2014; expected substantial completion in 2018.
Construction on Segment 3B began in April 2013; expected substantial completion in late 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 will be available for the senior lien bonds and TIFIA.
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