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The Central Texas Turnpike System (CTTS) is a new transportation system that
will improve overall traffic mobility, facilitate access to regional services,
and increase travel safety for Central Texas residents, workers, and visitors.
The system will initially consist of the 2002 Project, which includes three
elements: SH 130 (49 miles), which begins north of Georgetown, Texas and runs
to US 183 in southeast Travis County (extending to I-10 when funding becomes
available); SH 45N (approximately 13 miles), from Ridgeline Blvd. west of US
183 to SH 130; and the Loop 1 Extension (approximately three miles), which runs
from FM 734 (Parmer Lane) to SH 45N. The system will also include any future
projects added to the system under the Texas Turnpike Act, as well as other
roads, bridges, or other toll facilities for which the Texas Transportation
Commission has responsibility and is collecting tolls. The project is being
financed in part with the proceeds of bond obligations. Additional funding is
provided through state, local, federal, and private sources from investment
earnings.
The 2002 Project is providing 65 miles of new roadway to Central Texas. Total
project financing is $3.6 billion, including design, construction, right of way
acquisition, and other financing costs (insurance, debt service, interest,
etc). The 2002 Project will be completed almost 25 years sooner than
conventional transportation construction projects due to the innovative
financing (a combination of public, private, bond financing) and, in the case
of SH 130, a new contractual arrangement referred to as a Comprehensive Development
Agreement (CDA). Under the CDA, a single contractor or consortium of
contractors is retained for design, construction, right of way, permitting and
other aspects of project completion.
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