A ceremonial ground breaking was held on April 27, 2015, for the Midtown Express project in Irving, Texas. RS&H’s John Pollard participated in the ceremony and celebrated the monumental public-private partnership (P3) that spans 28 miles, five cities, and connects Fort Worth and Dallas. After completion, drivers will enjoy new express or “TEXpress” lanes.
RS&H was part of the team that supported the Texas Department of Transportation (TxDOT) in developing the procurement documents for this successful P3 project with conditional award in February 2015 to the best value proposer, 15 months after issuing the RFQ in February 2013. The development agreement (DA) was executed in November 2015. Competitive bidding and a tiered procurement structure resulted in TxDOT receiving one billion dollars of improvements to SH 183, LP 12, and SH 114 for the $850 million in available funds through the innovative technical and financial approach. The financing component of the DA included the nation’s largest receivable financing ($250 million) and the first long-term (25-year) operations and maintenance requirement with renewal and handback requirements without an equity component.
About the author
- Joe is a storyteller with more than a decade of experience in media relations, with particular specialty in writing and promoting.