Source: Camino Real Regional Mobility Authority (CRRMA)
Caption: Construction for one of the bridges that connects US 54 and Spur 601.
CIFS Tool Categories:
Project Name |
Spur 601 (Inner Loop) |
|---|---|
Location |
El Paso, TX |
Project Sponsor / Borrower |
Camino Real Regional Mobility Authority and TxDOT |
Program Areas |
|
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 |
Project Delivery / Contract Method |
Design-Build-Finance |
Private Partner |
J.D. Abrams |
Project Advisors / Consultants |
J.D. Abrams |
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 |
|
Related Links / Articles |
|
Contacts |
Lauren Macias-Cervantes (TxDOT) |
