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U.S. Department of Transportation U.S. Department of Transportation Icon United States Department of Transportation United States Department of Transportation

US-183A Phase III

183A Phase III Project
Project Type
Roads and Bridges
Financing Type
Credit Agreement Executed
Central Texas Regional Mobility Authority (CTRMA)
Project Description

183A Phase III project is a 5.3-mile extension of the existing six-lane, controlled access, grade separated tolled main lanes (two tolled lanes in each direction) from the current terminus of the 183A Phase II Project located in the north of metro-Austin. 

Project Details
TIFIA Assistance
RRIF Assistance
Primary Revenue Pledge
Toll Revenues
Project Cost
Fiscal Year Closed
CTRMA awarded the construction contract in September 2020 (design is complete).
Funding Sources
183A Phase III will be funded as follows:
Senior Lien Bonds $195.44 million
Bond Anticipation Notes (BANs) $108.44 million
CTRMA Pay-Go funding $19.50 million
TIFIA Loan tranche ($106.71 million) will refinance BANs.
Project Delivery/Contract Method
183A Phase III was procured using Design-Bid-Build approach. Design was completed in August 2020. In September 2020, CTRMA awarded a firm fixed-price, date-certain construction contract for the project.
Project Participants
Sponsor: Central Texas Regional Mobility Authority; Construction: Lane Construction
Project Advisers/Consultants
To Borrower:
Financial Advisor: Hilltop Securities
Legal: Bracewell LLP
To USDOT Build America Bureau:
Financial Advisor: Clary Consulting
Legal Advisor: Skadden Arps Meager & Flom LLP
Project Lender
Credit Assistance Detail
CTRMA applied for a direct TIFIA Loan of up to $456.65 million to finance 33% of the 183A Phase III project, to refinance the existing 183S TIFIA loan that closed in FY2016, and to cancel and replace the current 290E Phase III TIFIA loan that closed in FY2019.

Financial Status
Credit agreement executed in February 2021.
Application Details
Central Texas Regional Mobility Authority (CTRMA)
LOI Fiscal Year Received
LOI Received Date
Application Received Fiscal Year
Credit Agreement Executed
Initial Eligibility Review
Review Complete
Creditworthiness Review
Review Complete
Application Review
Review Complete
Estimated Project Cost
TIFIA Request
RRIF Request
Instrument Type
Direct Loan