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The Central Texas Approach
Mike Heiligenstein
Executive Director
Texas Regional Mobility Authorities
• #1 Central Texas
• #2 Alamo
• #3 Grayson County
• #4 Northeast Texas
• #5 Cameron County
• #6 Hidalgo County
• #7 Camino Real
The Texas Model
• Board of directors (appointed)
– Local control
• A multi-modal approach
– Planes, trains, automobiles and more
• Jurisdictional flexibility
– Multiple counties
– Non contiguous counties
• Innovative contracting methods
– Comprehensive development agreement
The Texas Model
• A blend of funding sources
– Revenue bonds
– Private equity
– Private capital
– Federal funds
– State funds
– Grants and loans
• Toll Equity Grant
• Texas Mobility Fund
• TIFIA
• SIB
– Local contributions/taxes
– Concession agreement
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Getting Started
• Government loans, grants and donations create
financial foundation
• Revenue bonds or private investment provides
primary capital
• Tolls or fees generate revenue to meet debt
obligations
• As business increases, surplus revenue can be
used to fund other regional mobility needs
• Feasibility account in first bond financing
issuance
The Mobility Authority Process
• The county or counties file a petition with
the Transportation Commission for creation
of a Mobility Authority
• Commission reviews the application to
insure all requirements have been met
• TxDOT conducts public hearing(s)
• Transportation Commission reviews
application and public comment before
determining whether to authorize
The Central Texas Regional Mobility
Authority
• 1st regional mobility
authority in Texas
• Began operation in
January 2003
• Bi-county agency with
seven member board
•
Initial focus regional
toll road plan
First Project
• Originally proposed in 1982
• Being built under a Comprehensive
Development Agreement
– Design/build process
– Contractor assumes risk
– Guaranteed maximum price of $166 million
– Guaranteed completion March 2007
– Public involvement activities included
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Benefits of CDA Process
• Fosters innovation
• Best value approach
• Expedit