Archives > Plano Star-courier > News
Print
E-mail
Comment
Rate
RSS
Share
NTTA snags vote for 121 toll project
By Josh Hixson, Staff Writer
North Texas elected officials voted Monday to support the North Texas Tollway Authority’s (NTTA) bid for construction of the State Highway 121 toll project.
After a lengthy debate, the Regional Transportation Council (RTC) — the official transportation planning body of the Metroplex — decided 27 to 10 in favor of the NTTA over a rival bid from the private Spanish construction firm Cintra.
The NTTA proposal offered $2.5 billion up front and $833 million over time.
Paul Wageman, chairman of NTTA’s board, said he was confident the state transportation commission would honor the council’s recommendation and approve their bid for the project.
Cintras’s bid had been recommended by the Regional Transportation Council’s executive staff, the Texas Department of Transportation, as well as Price Waterhouse Coopers, the accounting firm hired to evaluate the bids.
Sen. Florence Shapiro (R-Plano) — a spectator at Monday’s RTC meeting — said the outcome is exactly what the Texas Legislature had in mind when it asked the transportation commission to invite the NTTA to make a bid.
“We truly believed that TxDOT prevented (NTTA) from competing,” Shapiro said. “This was the best way to bring them back into the fold and let them compete. I think the NTTA will give us the best value for our dollars.”
Opponents of the public tolling authority’s bid claimed the amount of debt incurred by the NTTA to construct the initial toll project would prevent them from starting on other construction projects in North Texas.
Price Waterhouse Cooper consultant Arthur Baines reiterated his firm’s assessment of the bids Monday, pointing out at that the projected traffic forecasts make or break the NTTA’s bid.
“This all hinges on where you think traffic is going to go,” Baines said. “If traffic flow is low the NTTA bears that cost. In Cintra’s case they would still be able to pay their annual lease.”
“In a downside case you are protected. In an upside case the revenue goes to the (Cintra) shareholders,” Baines said.
Cynthia White, RTC chair and Denton County Commissioner, said she was not willing to gamble the region’s other projects and voted for Cintra.
Wageman said the construction and subsequent tolling of SH 121 should produce early dividends and allow the NTTA to finance other projects.
“It will have a very significant benefit to our system in the early years,” Wageman said. “It is not going to take 20 years to realize the financial benefits from 121.”
Loretta Ellerbe, Plano and RTC council member said her vote for the NTTA was a vote for the lesser of two evils.
“We would prefer not to have a toll road. But if we have to have it we really would prefer NTTA to operate it,” Ellerbe said. “I didn’t like the idea that money being generated in Collin County would go out of the country to investors.”
Collin County Commissioner Joe Jaynes, said giving the NTTA the project would be a vote of confidence in the local entity. Jaynes also voted for the NTTA.
“Do we go with NTTA and take them to the next level or do we go with an unknown?” Jaynes said.
Contact Josh Hixson at jhixson@acnpapers.com
The following are comments from the readers.
In no way do they represent the view of Starlocalnews.com
In no way do they represent the view of Starlocalnews.com
Money wrote on Jun 20, 2007 9:51 PM:
" Isn't our gas tax going outside of Collin County? You know, if the state just used the gas tax only on roads, we wouldn't need toll roads. But, as is the case in every U.S. state, that money goes into the general fund, just like the lottery that was supposed to go exclusively to education. "
Other Fees That Don't Go To Collin County wrote on Jun 20, 2007 9:57 PM:
" In addition to the gas tax, the state has ten or so other transportation-related taxes. These include license and vehicle registration fees, car rental taxes, title fees, etc. However, of the $6.9 billion a year raised from these transportation-related taxes, only $2.8 billion (37%) of this money actually goes to the State Highway Fund to pay for transportation statewide. Of the $6.9 billion raised, more than half of this money goes to the general fund. The general fund pays for the state's day-to-day expenses, which include everything from prisons to health care. Approximately 5% of the $6.9 billion goes to the Department of Public Safety, which enforces the law on highways.
The state's portion of the sales tax on rental cars goes into the general fund, and the money collected for driver's license renewals also goes into the general fund. Only a portion of the money from annual vehicle registration fees goes to the State Highway Fund, while the rest goes into the general fund.
"
You must register with a valid email to post comments.
Only your Member ID will be posted with the comments.
Only your Member ID will be posted with the comments.
Registered users sign in here:
Become a Registered User
- Return to: News «
- Home «
- Top of Page ^
