Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: December 1, 2009

Project Name: North Tarrant Express (Dallas)
Year in Operation:
Sector: Transportation
Subsector: Roads
Status: Design / Construction
Type: New Facility
Description: $2 Billion 52 year concession for the design construction operation and maintenance of new tollway in metro Dallas-Fort Worth. Congestion reliever allong the I-820, I-35W, and SH183 Corridor in Forth Worth, Haltom City, North Richland Hills, Hurst, Bedford, and Euless, TX.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments:

Project Locations

Address: State Highway 183
City: Hurst
State:
Country: United States of America

Address: State Highway 183
City: Hurst
State: Texas
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): 52 year concession/lease agreement from State of Texas to developer of the North Tarrant Express.

Souces of Project Support (Monetary)

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From Public (Government) Sources to Producers

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Direct Cash Support: $650 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan.

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Credit Enhancements

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From Other Public Entities: $400 million dollars in Private Activity Bonds authorized by US Congress to be sold for projects authorized by US DOT.

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From Private Capital Markets Directly to Producers as Debt: Proposal indicates that approximately $1.6Billion will be borrowed as debt by the concessionaire, in addition to the $400 million in Private Activity Bonds described above.

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From Producers as Equity: Proposal indicates that approximately $830 million will be contributed as equity by partners within the developer's team.

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Rated by Standard & Poors

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Rated by Fitch: BBB-minus

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Rated by Moody's: Baa3

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
52
0
Forms
Description
Other
State form, subsequently negotiated with winning proposer. 

Project Value (If and As Known)

Date of Estimated Project Value: June 23, 2009
Project Value
Hard Cost
Hard & Soft Costs
Construction
$1-5 Billion US
(none)
Total
$2-10 Billion US
(none)

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