Last week, with 20 lawyers and hundreds of documents present in New York City, TxDOT moved forward with a 50 year deal, on a $1.36 Billion toll concession with Cintra/Zachry to build the next section of TTC primer SH 130 (segments 5 & 6).
TxDOT was paid the $25.8 Million upfront to let the special interests collect tolls on the new road for 50 years.
Cintras Jose Maria Lopez de Fuentes said, "The details were all done and the champagne was brought out (by Friday afternoon)." "...There are now two or three business days for due diligence (before the money moves)." according Reuters and TollRoadsNews.com
'Privately funded?' Cintra-Zachry asks Uncle Sam for a loan HERE.
UPDATE:
Sal,
Good article on the financial closing on Segments 5 and 6 of SH 130. I went to the FHWA web site to see how much of a TIFIA loan Cintra received. The original article you had from 2005 said that Cintra had applied for a $320m loan. Below is the link to Mary Peters’ announcement dated March 10, 2008, which shows that FHWA actually approved a TIFIA loan for $430m.
http://www.fhwa.dot.gov/pressroom/fhwa0806.htm
The same thing happened when TxDOT asked for a TIFIA loan in 2002 for the first 4 segments of SH130. They asked for approximately $700m and were given approximately $900m. Wish we could get loans like that!
Barb
5 comments:
Sure was some good press coverage on that, wasn't there? You would think that a $1.3 billion deal would at least be worth a news clip. What goodies will hit the table next?
"In addition, Highway 130 also may not have room for roads, rail lines and utility lines all in one place, one of the key selling points the state has touted."
This is the worst news I've heard in a long time and it makes me sick.
So there's going to be no passenger rail from SA to Austin. Of course not- if there were, it would cut into toll road and oil company profits. Forget the fact that building a train could actually help Dell and other North Austin tech companies. A train would make it economically and mentally feasible for those who live far from Round Rock- as far as San Antonio, to commute to Dell every day for work. Look at Manhattan. People commute by train from NJ and Connecticut. If they had to drive, no way.
Spitzer, governor of New York, busts the Gambino Crime family and has a nearly impeccable track record for ethics and helping citizens. He screws up bigtime by f__king a hooker and must resign. Yes it's bad, on a personal level, but Perry on the other hand, f__ks ALL of Texans every day with tolls on existing highways, emminent domain abuse, dirty coal plants, an executive order for Gardasil and more, and he's still in office. What's wrong with our damned country? Stealing from the people is much worse than getting a call girl. Wake up people! Wake up, Media!
IS THIS NONSENSE EVER GOING TO STOP? I'm ready for a good old tax revolt and I'll be the first in line to participate if we can get enough people!
Folks, this is just the beginning of the rape of the taxpayers of Texas and the people that lose their land to this debaucle. There is so much money on the table (and under) and that always brings out the people that can think up innovative ways to spend your money. Reading some of the benefits of this corridor almost made me wet my pants. How is it going to be so beneficial for truckers to get to Austin? Gotta admit, maybe the ones from Houston, but from San Antonio? Sure am glad that our federal government kicked in a sizeable loan. Probably had to borrow the money from China to loan it to another foreign country to build OUR roads. What is wrong with this picture? When we start contracting out construction of our military weaponry, I hope someone wakes up long enough to see the danger of that.
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