The U.S. Department of Transportation’s Build America Bureau will provide up to a $46.94 million Transportation Infrastructure Finance and Innovation Act loan to the Central Texas Regional Mobility Authority to help fund phase three of its 290E Manor Expressway Phase III Project.
[Above photo of the City of Austin via Pixabay.]
This particular roadway project – located at the intersection of U.S. 290 and State Highway 130 in the City of Austin within Travis County – will add three direct connectors to complement the single existing direct connector currently owned and operated by Texas Department of Transportation.
USDOT noted in a March 21 statement that US 290 is a significant east-west commuter and freight route as well as a hurricane evacuation route, while SH 130 serves as a north-south commuter route and bypass to I-35.
The agency added that this TIFIA loan will be repaid by toll revenues from the project as well as from other four other projects developed by CTRMA: 183A (Phase I and II), 290E (Phase I and II), SH71, and 183S. As of now, USDOT said the first three of those expressway projects are operational, with the fourth one (183S) is expected to begin revenue service around mid-2020.