A look at DFW highway funding

DALLAS-FORT WORTH – Three massive road projects that have been underway for several years — the DFW Connector in Grapevine, North Tarrant Express, and LBJ Express — are expected to be finished by late 2015.

The $1.1 billion DFW Connector is entirely publicly funded with TxDOT providing $696 million and the remainder from American Recovery and Reinvestment Act funds and Texas Propositions 12 and 14 general obligation bonds.

The $2 billion North Tarrant Express was funded via $573 million from TxDOT, a $650 million federal loan, $400 million in private activity bonds and $426 million in private equity. The private group, made up of Cintra, U.S. Meridiam Infrastructure Finance and the Dallas Police and Fire Pension System, is called NTE Mobility Partners.

While TxDOT owns the project, the partnership will operate and maintain it for 52 years.

After the 52 years, the road system reverts to the state, which can continue tolls and use them for maintenance, stop tolling, or re-sign a maintenance agreement.

The same parties, under the name LBJ Infrastructure Group, invested in the $2.6 billion LBJ Express project. The funding came from $490 million from TxDOT, a $850 million federal loan, $615 million in private activity bonds and $664 million in private equity. Yearly maintenance is expected to cost $1.7 million.