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United States Department of Transportation United States Department of Transportation

Grand Parkway Segments H&I

Map of Project Location
Project Type
Roads and Bridges
Financing Type
TIFIA
Status
Credit Agreement Executed
Project Description

The Grand Parkway Segments H&I Project involves continuation of construction of a tollway in the Greater Houston area, spanning seven counties, that will partially complete a proposed 184-mile circumferential tollway known as the Grand Parkway System.  Segments H and I, with substantial completion slated for May 2022, will extend the outside loop by 43 miles.  All project segments previously under construction are complete and open to tolling, totaling approximately 64 miles.

Project Details
TIFIA Assistance
$605.33M
RRIF Assistance
$0.00M
Primary Revenue Pledge
Toll Revenues
Project Cost
$1924.00M
Fiscal Year Closed
FY2019
Funding Sources
2018A Subordinate Bonds: $712.1 million
2018A Subordinate Premium:  $98.1 million
2018 Bond Anticipation Notes (BANs): $605.33 million*
2018 BANs Premium: $63.2 million
2018B Subordinate Bonds: $166.525 million
2018B Subordinate Premium: $20.6 million
2013E Subordinate Bonds: $150 million
*TIFIA Loan Proceeds will be used takeout the BANs after construction
Project Delivery/Contract Method
Design-Build with Grand Parkway Infrastructure a joint venture between Ferrovial Agroman US Corp, Webber LLC, and Granite Construction
Project Advisers/Consultants
To GPTC:

Estrada Hinojosa & Co., Inc. - Financial Advisor
T&R Advisor: CDM-Smith
Goldman Sachs, Underwriter for the Revenue Bonds
Mayer Brown- Counsel to the Borrower

To USDOT Build America Bureau:

TIFIA Financial Advisor – Deloitte
TIFIA T&R Advisor - PFAL/C&M Associates
TIFIA Legal Advisor – Bryant, Miller, Olive, PA
Project Lender
USDOT Build America Bureau, Bondholders
Credit Assistance Detail
Direct loan: Up to $605.33 million.  The TIFIA loan will be repaid with toll revenues from the Grand Parkway System.
Application Details
Applicant
TxDOT
LOI Fiscal Year Received
FY2016
LOI Received Date
Credit Agreement Executed
Initial Eligibility Review
Review Complete
Creditworthiness Review
Review Complete
Application Review
Review Complete
Estimated Project Cost
$1600.00M
TIFIA Request
$532.00M
Instrument Type
Direct Loan