2007 Regional Toll Revenue (RTR) Funding Initiative
Formerly known as the CDA/Regional Toll Revenue Initiative | ||||||||||||||||||||
| In 2007, the 80th Texas Legislature passed Senate Bill 792, redefining the way toll projects are delivered throughout the state and creating a process through which the market value of a project is determined. Following the 80th session, TxDOT, NTTA, and NCTCOG worked together to develop SH 121, a critical corridor in Collin, Dallas, and Denton counties. On November 30, 2007, the agencies announced the financial close on a $3.2 billion project agreement that allowed NTTA to complete construction of the 26-mile corridor, as well as operate and maintain the road for the next 52 years. The transfer of SH 121 to NTTA will come after many years of successful work by TxDOT to develop and construct the initial main lanes and frontage roads. The $3.2 billion upfront payment also provided funding for the Regional Toll Revenue initiative, an account that will help speed construction for numerous projects throughout the Dallas-Fort Worth region. By advancing projects by many years, the region can help offset rising construction costs that are contributing to the transportation financial crisis. The links below represent the steps taken to announce the initiative and select the projects to receive funding.
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