The North Texas Tollway Authority Board of Directors approved a NTTA/TxDOT SH 360 Section 1 Memorandum of Understanding Partnership Term Sheet (MOU) with the Texas Department of Transportation to deliver the State Highway 360 project as a public-public partnership, it was announced Friday, Jan. 25, at special board meeting.
The Texas Transportation Commission will consider the MOU at its scheduled meeting next month. The NTTA Board believes this is a mutually beneficial agreement whereby TxDOT and the NTTA join together to invest in a regionally significant road using proven project delivery tools.
If the MOU is approved by the Texas Transportation Commission, the next step would be for TxDOT and the NTTA to negotiate a project agreement.
“This agreement demonstrates two partners crafting innovative solutions to bring much-needed mobility to the region,” said NTTA Chairman Kenneth Barr.
The initial SH 360 toll project is defined as a staged toll road extending from the end of the current expressway to Broad Street as a four-lane toll road, and a two-lane (commonly called a Super 2) from Broad Street to U.S. 287. The initial project will also include completion of the remaining frontage road at the south end of the project.
This would be a shared effort – shared costs and shared revenue – a culmination of a collaborative dialogue between project partners to deliver a regionally significant project.
“This project has been a vision of the people of Tarrant County for many years,” said outgoing NTTA Board Director Victor T. Vandergriff. “I pledged to remain on the NTTA Board until we had an agreement. I am very happy that day has come.”
More information about the SH 360 project can be found on ntta.org.