TxDOT pushes ahead with buyout of SH 288 private toll road

Aug 30, 2024 · It will allow the State of Texas to receive over $2 billion in added valuation. TxDOT will use the added value to slash future toll charges and to build free lanes on that segment of …

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TxDOT Pushes Ahead With Buyout Of SH 288 Private Toll Road

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TxDOT Buys Back SH-288 Toll Road, And Drivers Want To Know …

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Dec 19, 2024 · Now that the State of Texas has taken over the operation of the 288 Expressway, will those tolls ever drop? Officials say TxDOT could consider it once a $1.7 billion debt is paid …

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TxDOT Buys Back SH 288 From Foreign Toll Operators

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TxDOT’s $1.7 Billion Toll Road Buyout May Keep Tolls in Place ... [The drive is about] $17, $18 one way,” Darren Dixon, the owner of a BBQ restaurant right next to Highway 288, said. ...

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New Lawmakers Take On TxDOT Over $1.7 Billion Toll Controversy

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Aug 21, 2024 · In a letter to TxDOT Chairman J. Bruce Bugg Jr., the group said they are “extremely concerned by the action the Texas Transportation Commission took recently to …

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TxDOT Buys Back SH 288 Toll Road From Private Equity Partner

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Oct 23, 2024 · The Texas Department of Transportation has terminated the only public-private toll road partnership in the state, spending $1.7 billion to buy back ownership of a portion of State …

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Lawmakers Rail Against $1.7 Billion Texas 288 Toll Lane Buyout

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Aug 22, 2024 · Although it seemed like a done deal, the Texas Department of Transportation's (TxDOT) planned $1.7 billion early buyout of the Texas 288 toll lanes is raising some …

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Taxpayers Funding Toll Roads: A Controversial Decision

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Aug 1, 2024 · The $1.7 billion buyout of the State Highway 288 toll lanes by TxDOT represents a significant shift in how Texas manages its toll roads. While the promise of improved …

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Abbott, Patrick Bless TxDOT's $1.7B Texas 288 Toll Lane Buyout

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Aug 27, 2024 · The Texas Department of Transportation's $1.7 billion early buyout of the Texas 288 toll lanes ... road project may be more cost-effective than the construction of a new road, …

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TxDOT Leaders Proceed With $1.7B Plan Terminating Texas 288 Toll …

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TxDOT inked a 50-year deal in March 2016 with Blueridge Transportation Group that allowed the company to build a tollway within Harris County from Interstate 69 to Brazoria County in the …

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TxDOT Poised To Takeover Texas 288 Toll Lanes In $1.7 Billion Deal

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The Texas Commission of Transportation will decide this week whether to approve the Texas Department of Transportation's (TxDOT) $1.7 billion buyout of the Texas 288 toll lanes. As first …

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FAQs about TxDOT pushes ahead with buyout of SH 288 private toll road Coupon?

Will Texas DOT buyout of Texas 288 toll lanes reduce fares?

The Texas Commission of Transportation will decide this week whether to approve the Texas Department of Transportation's (TxDOT) $1.7 billion buyout of the Texas 288 toll lanes. As first reported by the Houston Chronicle, the proposed change might result in lower toll fares for drivers coming into Houston from Brazoria County. ...

Will Texas toll rates be less than the current concession agreement?

“TxDOT anticipates that future toll rates will be significantly less than what are allowed for under the current concession agreement,” officials said. The Texas Commission of Transportation will decide this week whether to approve the Texas Department of Transportation's (TxDOT) $1.7 billion buyout of the Texas 288 toll lanes. ...

How much will TxDOT's $4 billion asset help Texas drivers?

"We will provide meaningful relief for Texas drivers along this corridor. Securing a more than $4 billion asset for just $1.7 billion will not only benefit Texas drivers, it will also enable TxDOT to continue investing in and advancing crucial roadway projects across the state. ...

Will TxDOT 'buy out' fares decrease?

“The agency believes the cost of the ‘buy out’ provision in the contract is substantially below the value of future toll revenues on the corridor,” TxDOT officials said, per Begley. While toll road fares are expected to decrease, the change won't happen immediately. ...

Will Texas be able to provide toll relief?

According to TxDOT, Texas will be able to provide toll relief by reducing average toll rates by 50 percent for drivers and investing in newer lanes quickly. "Texas will also be able to accelerate the construction of general-purpose lanes much faster than what the current [agreement] allows us. ...

Will Texas take over FM 288 toll lane?

State Representative Briscoe Cain said that his office will be looking into legislation to prevent deals that buy toll roads while still charging taxpayers toll fares. FM 288 traffic travels northbound and southbound on the express toll lane. Debate is ongoing over the state's takeover of the Texas 288 toll lanes. ...