RECA's ability to effect change in local and state government depends on our membership engaging in the process. This page provides quick and easy access to major decision makers in our community.

ACTION ALERT

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Working through Take On Traffic, we were successful in getting five new road projects approved last year. We must be vigilant or our hard work will be lost. We need you yet again to take up the fight to ensure we have a comprehensive transportation system and that 290 East/the Manor Expressway will be built.  If you do not take action, these roads will be delayed again and the toll rate will skyrocket. Please act today by clicking on the "Send E-mail" button below to contact CAMPO members to ask that they vote YES for Manor Expressway Financing at their meeting on December 1, 2008!

When will CAMPO consider Manor Expressway Financing?

The Capital Area Metropolitan Planning Organization (CAMPO) meets on Monday, December 1, 2008 to vote on system financing between the planned Manor Expressway and the existing 183A toll road. CAMPO's meeting is from 6:00 to 8:00 p.m. at the Joe C. Thompson Center on the UT campus. Room 2.102 (Dean Keeton at Red River).

Were there Public Meetings on the Manor Expressway Financing?
As you know, last year the Capital Area Metropolitan Planning Organization (CAMPO) approved five toll projects to help reduce traffic congestion in our region and address safety issues. One of these road projects is 290 East, the Manor Expressway.

When CAMPO approved the new road projects, they also passed a series of resolutions that would govern the construction and operation of the roads. One of these resolutions states that if revenue from one toll road is used to help finance another road in a different corridor, CAMPO will hold public meetings to gather community input before a decision is made to allow this. Using combined toll revenues in this way would create a system for financing, operations, and maintenance of our roadways — similar to municipal water, wastewater, electric, and regional drainage systems.

Public meetings were held on November 5, 6, 12, and 13, 2008 to provide information and gather input about system financing between the planned Manor Expressway and the existing 183A toll road, which is not covered by the resolutions adopted last year by CAMPO. The Central Texas Regional Mobility Authority (Mobility Authority) and CAMPO want to make sure that everyone is aware of the Manor Expressway’s planned financing package.

System Financing and the Manor Expressway
When CAMPO approved the Manor Expressway, the region expected to receive a portion of the funding from the Texas Department of Transportation (TxDOT) to build out the project. Unfortunately, it no longer appears that TxDOT is able to provide funding, which has limited the financing options available to the Mobility Authority.

Specifically, while the Mobility Authority has succeeded in securing financing for the Manor Expressway, it must provide a financial “backstop” for the project. A backstop is comparable to having a co-signer on a bank loan. In this case, revenue from 183A — which since its opening has consistently surpassed its traffic and revenue projections — would be pledged as a guarantee of funds borrowed to help build the Manor Expressway. This will help the Mobility Authority get the lowest interest rates possible, obtain needed financing more quickly, and reduce the ultimate cost of the Manor Expressway.

It is not anticipated that revenue from 183A will be needed to fund construction of the Manor Expressway. However, 183A revenue may be used to help make bond payments. If this occurred, future toll revenue from the Manor Expressway would be used to repay those funds. Therefore, money would move between the two roadway corridors creating a comprehensive regional transportation system.

Regardless of the financing plan:

• Manor Expressway will be owned and operated locally by the Mobility Authority.
• Manor Expressway will have new and safer frontage roads to ensure a non-tolled alternative that a driver may use instead of the tolled lanes.
• The planned northern extension of 183A will not be delayed.
• There will be no increased toll rate on 183A due to this plan.

Using 183A revenue as a backstop will ensure:

• The lowest toll rate possible on the Manor Expressway.
• The Manor Expressway will be built quickly, in less than 3 years from groundbreaking.
• The overall cost of the project will be lower because the project can be built faster.

System financing will ensure that we can plan and create a comprehensive system of transportation as quickly as possible.

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