CTRMA announces 183 South funding

The Central Texas Regional Mobility Authority announced Thursday that the Texas Transportation Commission has given preliminary approval for a $203.4 million loan package for the 183 South project. In all, the project is expected to cost between $750-$800 million. 183 South will connect US 290 and SH71 and include three tolled lanes and two or three nontolled lanes in each direction. According to a statement to the press about the funding: “The commission granted preliminary approval for the Mobility Authority to receive a State Infrastructure Bank Loan of up to $30 million, a toll equity loan of up to $30 million and a toll equity grant in the amount of up to $143.4 million from the State Highway Fund plus the value of right of way that will be transferred from the Texas Department of Transportation to the Mobility Authority. Additional construction financing will come from toll revenue bonds, and a Transportation Infrastructure and Innovation Act (TIFIA) loan from the Federal Highway Administration.”