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: April 13, 2011

Project Name: LBJ-635 Express Project
Year in Operation:
Sector: Transportation
Subsector: Roads
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: The project involves the rebuild of one of the most congested highways in North Texas. When complete, the project will provide improved mobility by almost doubling the existing roadway capacity. It will feature a combination of four lanes and two to three continuous frontage roads in each direction. Additionally, there will be three managed toll lanes in each direction using dynamic pricing to keep traffic moving at 50 mph. This is the first Comprehensive Development Agreement (CDA) project signed in Dallas County.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes

Project Locations

Address: 11900 Luna Road
City: Farmers Branch
State: Texas
Country: United States of America

Address: 12330 Greenville Ave
City: Dallas
State: Texas
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Land: The department already owns the majority of the project site. Therefore, costs related to new ROW acquisitions are limited.
Checkbox Checked Access to Land: The TxDOT will lease the entire project property to the DBOFM concessionaire for a 52 year term commencing on the date operations begin. However, during the lease term, the department reserves the right to enter, possess, control, and utilize the premise without compensation payment to the developer to the extent specified in the documents. It also reserves the right to grant other parties access to the premises as well to the extent specified in the contract. The concessionaire is required to pay rent annually to TxDOT over the lease term according to the calculations of a “Revenue Payment Amount” which are dependent on toll revenues.
Checkbox Checked Revenue Stream (Cash Flow) Created Through Initial Commitment of Public Sponsor(s): The contract stipulates that TxDOT will pay the developer of the project the amount of $445,000,000 for compensation. This amount is NOT subject to change for any reason. The developer may submit payment requests at a maximum frequency of 3 months only after the second notice to proceed is issued which is roughly 3 years into the project. Then, after the service commencement date for the IH 35E project segement, TxDOT will pay the developer $190M in good and immediately available funds.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): The developer is obligated to charge tolls on the project over the 52-year operating term. It receives its revenue from these tolls while also paying out its “rent” of the project premises from these tolls to the department annually.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: The Public Sponsors for the project are TxDOT and the Federal Government

Arrow Right
Checkbox Checked

Direct Cash Support: TxDOT is providing $490 Million in Public Funds to the project

Arrow Right
Checkbox Checked

Credit Enhancements: TxDOT is receiving $850 Million from the Federal Government through a TIFIA loan

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: $615 Million is being provide through Private Activity Bonds (PABs)

Checkbox Checked

From Producers as Equity: LBJ Infrastructure Group (Partnership between Cintra U.S., Meridiam Infrastructure Finance, and Dallas Police and Fire Pension System) is providing $664 Million toward the project in equity

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
Based Selection
Request for
Request for
for Bids

Term for Key Components & Forms of Contract

Project Component
Combined Term: Initial Design, Construction, O&M Period

Project Value (If and As Known)

Date of Estimated Project Value: April 13, 2011
Project Value
Hard Cost
Hard & Soft Costs
$1-5 Billion US
Operations & Maintenance
$200-500 Million US
$2-10 Billion US


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