Comprehensive development agreement for LBJ-635 expansion executed

by PegNews wire

Texas Department of Transportation officials executed a comprehensive development agreement (CDA) with the LBJ Infrastructure Group to design, construct, finance, operate, and maintain the 13-mile LBJ-635 corridor in Dallas County.

For a state investment of approximately $445 million, these improvements will provide $4 billion of needed infrastructure to the Dallas area, as well as operations and maintenance over the next 52 years. The CDA was conditionally awarded by the Texas Transportation Commission to the LBJ Infrastructure Group on February 26.

Prior to execution, the Texas Legislative Budget Board approved the expenditure of appropriated funds and the Texas Office of the Attorney General determined the contract’s legal sufficiency. In addition, TxDOT staff reviewed technical and financial information related to the agreement with members of the community at a public hearing in Dallas and shared its traffic and revenue report for the project with the State Auditor’s Office. The Federal Highway Administration also concurred with the contract execution.

Source: TxDOT