Texas Projects

In Texas, the Comprehensive Development Agreement (CDA) program has allowed the state to invest approximately $3.5 billion since 2002 to leverage and return more than $10.5 billion in long-term transportation improvements. The projects are highlighted in Figure 1 (above). Texas DOT and local-level Regional Mobility Authorities can enter into CDAs. The program has generated controversy; by statute, Texas DOT lost its general authority to enter into CDAs on August 31, 2009, retaining limited authority on specifically exempt projects and conditions until August 31, 2011. Texas DOT has indicated an interest in continuing the program, which has accelerated project delivery and has closed gaps in funding. In 2009 and 2010, the CDA program attracted more than $6 billion in private investment in state infrastructure.

FIGURE 1 CDA project in Texas.

Two recent Texas projects-the I-635 and North Tarrant Expressway managed lane PPP-used tax-exempt PABs and low interest TIFIA loans as sources of debt capital, amounting to more than $1 billion of PABs and $1.5 billion of TIFIA loans.