Skip to content
Skip navigation

Project Profile: Spur 601 (Inner Loop)

Spur 601 (Inner Loop)

Source: Camino Real Regional Mobility Authority (CRRMA)

Caption: Construction for one of the bridges that connects US 54 and Spur 601.

CIFS Tool Categories:

  • Alternative Project Delivery: Design-Build-Finance, Project Bundling, Project Finance, & Value Capture (Transportation Corporation)

Project Name

Spur 601 (Inner Loop)

Location

El Paso, TX

Project Sponsor / Borrower

Camino Real Regional Mobility Authority and TxDOT

Program Areas

Alternative Project DeliveryProject FinanceValue Capture

Mode

Highway

Description

The El Paso, Texas Inner Loop Spur 601 –known as the Liberty Expressway. The 7.5-mile, six-lane freeway connects US 54 (Patriot Freeway) in El Paso eastward to Loop 375 (Purple Heart Memorial Freeway), just south of the Fort Bliss Military Reservation. The project featured 12 bridges, including four direct connectors between US 54 and Spur 601, a 6,000-foot viaduct bridge spanning an existing service road and a new entrance to nearby Fort Bliss, and a traffic management system.

El Paso had experienced rapid growth due to the U.S. Department of Defense’s expansion to Fort Bliss and private development along Loop 375. The Inner Loop Spur 601 was designed to alleviate traffic congestion in the region and improve access to Biggs Army Airfield and Fort Bliss.

In one of the first pass-through financing agreements in the United States, the Camino Real Regional Mobility Authority (CRRMA) supported development of the Inner Loop Spur 601. To complete the project, CRRMA issued $233 million in tax-exempt bonds, accelerating the project five to 10 years ahead of programmed delivery in the Statewide Transportation Improvement Plan. The Texas Department of Transportation repays CRRMA through semi-annual payments based on facility use (i.e., traffic volumes recorded). This is sometimes referred to as shadow tolling, where instead of the users paying a toll, TXDOT pays a contractual payment per vehicle using the road to pay for the facility.

While J.D. Abrams provided some upfront project financing as part of this pass-through agreement, TxDOT owns, operates, and maintains the project upon completion and final acceptance.

Cost

$368 million

Funding Sources

TxDOT - $55.0 million
Tax-Exempt Bonds - $233.5 million
CRRMA Pass-Through Payments - $7.9 million
Original Issue Premium - $16.0 million
Interest Earnings - $8.9 million

Project Delivery / Contract Method

Design-Build-Finance

Private Partner

J.D. Abrams

Project Advisors / Consultants

J.D. Abrams
AECOM
Surveying and Mapping, LLC (SAM)
P.E. Structural Consultants, Inc.

Lenders

Camino Real Regional Mobility Authority

Duration / Status

Project began in January 2006 and completed in January 2011

Financial Status/Financial Performance

TxDOT will pay CRRMA semi-annual payments of at least $15.65 million but not more than $17.50 million during the contract period. Payments will be based on vehicle-miles traveled.

Innovations

  • Use of design-build finance project delivery method.
  • Texas’s first ever private-sector pass-through financing agreement.
  • Accelerated project development by 5 to 10 years ahead of Statewide Transportation Improvement Plan programmed delivery.
  • Repaid the bond debt, eliminating the need for the drivers to pay any tolls.
  • Allowed CRRMA to issue $233 million in tax-exempt bonds, despite its relatively short history of issuing debt.
  • With an elevated road, motorists enter and leave roadway without navigating traffic lights.
  • Used Transportation Corporation to deliver non-toll project, ie RMAs are political subdivisions of the State of Texas, created by one or more counties or by certain cities to finance, acquire, design, construct, operate, maintain, and expand toll or non-toll transportation projects.

Related Links / Articles

Contacts

Lauren Macias-Cervantes (TxDOT)
Jennifer Wright (TxDOT)
Public Information Officer
Lauren Macias-Cervantes: (915) 790-4340
Jennifer Wright: (915) 790-4341
lauren.maciascervantes@txdot.gov
Jennifer.Wright3@txdot.gov

back to top