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July 19, 2007
Session IX
Session IX: Trans-Texas Corridor
Friday, July 20, 2007 10:15 AM
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Trans-Texas Corridor
Posted By: txdot_kap at July 20, 2007 11:54:49 AM
The two main elements when evaluating the Trans-Texas Corridor consist of master planning and pricing risk, claimed Ed Pensock, Director of Texas Turnpike Authority for TxDOT. A 50-year strategy for constructing the Trans-Texas Corridor 35 had to be planned and developed, accordingly. Due to having a well thought out plan, it has been determined that the TTC 35 can pay for itself and help pay for other projects, too.
Risk management is the cornerstone of a successful project. This is what it all boils down to. By trying to identify, allocate and quantify the risks associated with the TTC 35, it has helped show why this project has the potential to be a great success.
Also, profit is an important aspect when dealing with any project. If an entity can’t make a profit, they won’t want to build the project; therefore, profit has been equated to the cost of getting projects built. It’s as simple as that.
Judge John Thompson, who serves on the Alliance for I-69 Texas board, said that these proposed corridor projects help bring economic development to the area and contribute to air quality improvements, among other things. No economic development takes place without transportation. Period. Transportation is the backbone that all growth is based on.
Ready or not, freight is coming. Freight is the gateway to prosperity and it is a growing trend. Houston and Dallas are 2 of 4 of the best Standard Metropolitan Statistical Areas (SMSA) in the US. From Forts to Ports, TTC 69 is connecting cities, states and countries together and helping facilitate the efficient and effective movement of goods and services.
We need to build these corridors to prepare ourselves for the inevitable—travel, growth, expansion, freight, etc. It’s coming, so we need to face the facts and start building.
Geoff Yarema from the Nossaman Guthner Knox and Elliott LLP firm said CDA’s in Texas are the way of the future. They offer many additional advantages over the traditional Design-Bid-Build approach, such as shifts in risk, accelerating project delivery, fixing costs and completion dates, and capturing private sector innovation and revenue.
There are four types of CDA’s that currently exist:
- Design-Build-Maintain
- Toll Concession
- Availability Payment Contract
- Pre-Development Agreement
