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Keyword: privatefunding

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  • Private investors take public profits at Machang Bridge

    09/19/2008 8:00:07 PM PDT · by Tolerance Sucks Rocks · 4 replies · 295+ views
    The Hankyoreh ^ | September 19, 2008 | The Hankyoreh
    There is rising criticism that the Machang Bridge, which opened in July at the cost of millions of won, is only enriching speculative capitalists with tax money. They say that throughout the country, roads built through private investment are becoming white elephants where investors eat tax money via rough traffic predictions and contracts with excessive profit guarantees. The province of South Gyeongsang spent 380 billion won (US$337 million) in budget outlays and 190 million won in private capital to build the Machang Bridge linking Changwon and Masan. For the next 30 years, the earnings from the bridge tolls will be...
  • LETTER: TTC ordeal remains the same

    09/01/2008 9:29:46 AM PDT · by Tolerance Sucks Rocks · 3 replies · 234+ views
    The Lufkin Daily News ^ | August 30, 2008 | Gary L. Smith, Sr.
    In my recent letter to you concerning the TTC, I misquoted some information about the company known as Cintra. Mr. Patrick Rhodes of Cintra wrote in response to my mistake. Therefore, I stand corrected with the following: Fellow citizens, the company, Cintra, is not affiliated with ZAI-ACS. Cintra is partnered with Zachry on some TxDOT projects and ACS is partnered with Zachry on some other TxDOT projects. Therefore, I hope this clarifies the over-zealous statements in my letter. Cintra is a Spanish-owned company, and ACS is a larger Spanish-owned company. Zachry, a Texas company, is affiliated with each of them...
  • Elevated transport rail imagined for city

    08/31/2008 6:03:21 PM PDT · by Tolerance Sucks Rocks · 15 replies · 392+ views
    Arkansas Democrat Gazette, Northwest Arkansas Edition ^ | August 31, 2008 | Brandy S. Chewning (Texarkana Gazette)
    TEXARKANA — The company selected to design Interstate 69 has revealed plans to also implement the world’s first air rail freight system in the corridor, possibly starting in Texarkana, Texas. “You [Texarkana ] have railroads here, you already have an interstate, bringing I-69 is another interstate, you’ve got Oklahoma, you’ve got I-49,” said Gary Kuhn, senior project manager for Zachary American Infrastructure. “This is what the logistics world likes to see — that opportunity to go from one mode to another very efficiently.” In a presentation to the Wilbur Smith Rotary Club, Kuhn said the freight shuttle is a new...
  • Texas wants its public funds to invest in roads

    08/22/2008 10:57:25 AM PDT · by Tolerance Sucks Rocks · 20 replies · 221+ views
    Reuters ^ | August 21, 2008 | Reuters
    NEW YORK (Reuters) - Public investment funds based in Texas could invest directly in transportation projects through a new corporation under a plan unveiled on Thursday by the state's legislative leaders and the governor. Texas has the nation's biggest road privatization plan but the legislature, reacting to criticisms that developers were enriching themselves at the expense of taxpayers, enacted a two-year moratorium. That has crimped road-building projects and led to a series of clashes between the governor and the legislature, who now have agreed on a compromise plan. Developers, including overseas companies, investment banks and private equity funds all vie...
  • Feds must green-light changes in I-69 route plan

    06/12/2008 6:19:43 AM PDT · by Tolerance Sucks Rocks · 14 replies · 233+ views
    The Houston Chronicle ^ | June 12, 2008 | Rad Sallee
    State highway officials said Wednesday that the first step in carrying out their decision to build a controversial toll road along the present U.S. 59, and not through farm and ranch land, is to get federal approval. Although no federal funding has been sought for the Interstate 69/Trans-Texas Corridor, the Texas Department of Transportation is bound by federal environmental law. The project has generated thick volumes about its likely impact on the natural environment and the communities in its path. The Final Environmental Impact Statement (FEIS) is expected to undergo public review late this year and then get sent to...
  • Editorial: Now TxDOT must act on its promises

    06/06/2008 5:09:58 AM PDT · by Tolerance Sucks Rocks · 6 replies · 168+ views
    The San Antonio Express-News ^ | June 5, 2008 | The San Antonio Express-News
    The Texas Transportation Commission sounded the right notes last month in its first meeting under new leadership. Deirdre Delisi, recently appointed by Gov. Rick Perry to chair the commission, and her fellow commissioners finally seem to have gotten the message — the Texas Department of Transportation has lost the public's trust. For those with short memories, here are a few highlights that explain how that happened: •TxDOT fought to keep details of Perry's proposed Trans-Texas Corridor secret. It denied repeated requests from the media and landowners to let the public view a plan that calls for hundreds of miles of...
  • Column - John Kanelis: State faces many rural roadblocks

    05/11/2008 2:38:48 PM PDT · by Tolerance Sucks Rocks · 7 replies · 387+ views
    Amarillo Globe-News ^ | May 11, 2008 | John Kanelis
    Texas Gov. Rick Perry wants to build a big highway through the Lone Star State. No, make that a really big highway, as in a monstrously big highway. The exact route hasn't been determined. The mega-highway would run roughly from Laredo on the Rio Grande River through the Hill Country and the Piney Woods and then through Texarkana in that tiny portion of the state that borders Arkansas. Imagine for a moment if that thoroughfare would be pointed in the other direction - from the Valley, through the South Plains and then through the heart of the Panhandle, right past...
  • Trans-Texas Corridor

    04/29/2008 5:29:55 AM PDT · by Tolerance Sucks Rocks · 16 replies · 459+ views
    Quarter Horse News ^ | April 29, 2008 | Sonny Williams
    Each day, I make the dreaded drive down Interstate 35 to go to work in Fort Worth. Each day, I slug through the snarl and sludge of ceaseless traffic, which intensifies my growing desire to commit hari-kari, or at least incites a vehement curse of the highway gods. Certainly, we in Texas need more lanes, more roads, more rails, more something to deal with the ever-expanding urban population and growing international commerce. Yet how do we solve our transportation needs without carving up the countryside like some congratulatory cake? Or should the construction of a superhighway-rail-utility corridor even concern us?...
  • Transportation leaders: Texas needs more money for its roads

    04/25/2008 5:13:48 AM PDT · by Tolerance Sucks Rocks · 13 replies · 342+ views
    The Dallas Morning News ^ | April 23, 2008 | Michael A. Lindenberger
    AUSTIN — Maybe Texas’ transportation problems are a lot simpler to understand than recent fights over toll roads make it seem, North Texas leaders told state senators Wednesday. “My first recommendation: You need to provide a lot more revenue for transportation,” Michael Morris, transportation director for the North Central Texas Council of Governments, told the Texas Senate transportation committee. That was hardly the only suggestion from Mr. Morris or the many others who spoke to the committee, which is seeking input as it readies an approach on toll roads, TxDOT and more for the next legislative session. But it might...
  • A Transportation Alternative In Texas

    04/08/2008 5:44:33 PM PDT · by Tolerance Sucks Rocks · 21 replies · 228+ views
    The Houstonian ^ | April 8, 2008 | Sally Abdelmottlep
    Cars have been a huge part of our lives. We use them to get around anywhere. It might have been the best invention mankind came up with, but we all hate several common things about cars, such as the cost of gas prices and traffic. We think sometimes in our imagination how awesome it would be if cars had wings, so maybe one day we will fly through terrific! We also despise accidents, high insurance and drunk driving. Sometimes, I feel that we need other alternative means of transportation, such as a subway system in the state of Texas; maybe...
  • Cintra/Zachry complete legal work on $1,360m financial close with TxDOT on SH130 5&6

    03/19/2008 6:20:26 PM PDT · by Tolerance Sucks Rocks · 13 replies · 949+ views
    TOLLROADSnews ^ | March 10, 2008 | TOLLROADSnews
    SH 130 Concession Company LLC finalized the legal details of a financial close with Texas DOT on a $1,360m toll concession to build SH130 segments 5&6 Thursday and Friday last week in bankers' offices in New York City - at Orrick, 666 Fifth Avenue. The actual money flows should occur on Thursday or Friday (Mar 13 or 14) this week, Jose Maria Lopez de Fuentes, president of Cintra North America, told us this morning. Hundreds of documents and over 20 lawyers were involved last week representing TxDOT, private equity people, banks, mostly European, the TIFIA loan group from FHWA, and...
  • Spanish firm using loan from U.S. to build segments of Texas toll road

    03/14/2008 4:23:23 PM PDT · by Tolerance Sucks Rocks · 20 replies · 860+ views
    Land Line Magazine ^ | March 13, 2008 | David Tanner
    Officials with the Spanish toll road operator Cintra have announced that the company has secured $430 million in loans from the U.S. government to build and operate two segments of a toll road in central Texas. Cintra officials announced the company’s financial plan for the $1.36 billion Highway 130 segments on Monday, March 10. OOIDA Senior Government Affairs Representative Mike Joyce told Land Line that the Association does raise red flags when federal dollars are used to subsidize private investors. Officials with the Owner-Operator Independent Drivers Association are not, however, categorically opposed to a state using future toll revenue to...
  • Trans-Texas Corridor

    03/09/2008 1:08:26 PM PDT · by Tolerance Sucks Rocks · 21 replies · 1,328+ views
    Nolan Chart ^ | March 8, 2008 | Adam Rink
    Topic: Globalism The Texas Department of Transportation (TxDOT) is planning on building a new super highway system called the Trans-Texas Corridor (TTC). The Trans-Texas Corridor will not be just another interstate and will it will be used by more than just automobiles. It will include 10 lanes for traffic, two high speed rail tracks, four standard rail tracks, utility lines, oil pipelines, and gas pipelines. The Trans-Texas Corridor will consist of many corridors segments that are 1,200 feet wide, with each mile consuming 146 acres of land. This land is currently ranch and farm land that is being taken by...
  • Trans-Texas corridor stirs controversy

    02/26/2008 2:28:30 PM PST · by Tolerance Sucks Rocks · 9 replies · 540+ views
    One News Now ^ | February 26, 2008 | Jim Brown
    The debate in Texas over a proposed 4,000-mile network of toll roads that will parallel the state's existing highway system is heating up More than 10,000 people have attended public hearings across Texas to discuss the proposed Trans-Texas Corridor, which has also been dubbed the "NAFTA superhighway." It is a project that is expected to cost an estimated $183 billion over 50 years. (hear audio report) Terry Hall with the group Texans Uniting for Reform and Freedom warns the project will create widespread eminent domain abuse and involve foreign control of public infrastructure. "They're taking huge swaths of land, up...
  • Corridor: All in favor? None

    02/26/2008 1:49:40 PM PST · by Tolerance Sucks Rocks · 12 replies · 430+ views
    Fort Bend Herald and Texas Coaster ^ | February 26, 2008 | Stephen Palkot
    A handful of Kendleton residents were among several dozen to speak out against the Trans-Texas Corridor at a public hearing Monday night in Rosenberg. “I personally think it's a slap in the face for Texas to take the land for pennies on the dollar, to put a road on it and to make you pay a toll for it,” said Jeremy West, one of the speakers from Kendleton. The Trans-Texas Corridor is a proposal for a network of highways, rail lines and utilities throughout Texas that would be financed by private interests who would seek to profit through tolls and...
  • Taxes or Tolls on the TTC

    02/25/2008 5:18:30 PM PST · by Tolerance Sucks Rocks · 6 replies · 281+ views
    Gather.com ^ | February 25, 2008 | Col. George W.
    One major concern I discussed a few weeks ago regarding the Trans Texas Corridor is where the land will come from. Another concern is where the money will come from. Official government websites for the TTC assure that public-private partnerships will shield the taxpayer from bearing too much of the cost burden, but a careful reading shows the door is definitely open to public funding sources, while at the same time there is no doubt of the intention to charge tolls on the road. Taxpayers already pay for their transportation system through hefty gasoline taxes, vehicle registration fees, and other...
  • TxDOT traveling bumpy road

    02/18/2008 1:33:51 PM PST · by Tolerance Sucks Rocks · 14 replies · 421+ views
    Lubbock Avalanche-Journal (Lubbock Online) ^ | February 18, 2008 | Enrique Rangel
    AUSTIN - When it comes to road improvement and maintenance, by most accounts, the South Plains and Panhandle are fortunate. Despite a $1.1 billion accounting error, the Texas Department of Transportation recently reported no projects in the region have been canceled or delayed while cities like Dallas, Houston and Laredo had at least a half dozen highway projects delayed. But the $1.1 billion-error, which occurred because TxDOT inadvertently counted some bond money twice and consequently allocated more funding than it had, is just the latest problem plaguing the beleaguered agency. For months, TxDOT executive director Amadeo Saenz and other transportation...
  • Proposal in Texas for a Public-Private Toll Road System Raises an Outcry

    02/10/2008 5:13:38 PM PST · by Tolerance Sucks Rocks · 10 replies · 937+ views
    New York Times ^ | February 10, 2008 | Ralph Blumenthal
    ROBSTOWN, Tex. — Leon Little’s farm here near Corpus Christi would not be seized for Texas’s proposed $184-billion-plus superhighway project for 5 or 10 years, if ever. But Mr. Little was alarmed enough to show up Wednesday night with hundreds of his South Texas coastal neighbors to do what the Texas Department of Transportation has been urging: “Go ahead, don’t hold back.” Don’t worry. Texans have gotten the message, swamping hearings and town meetings across the state to grill and often excoriate agency officials about a colossal traffic makeover known as the Trans-Texas Corridor, a public-private partnership unrivaled in the...
  • Fear and loathing along proposed Trans-Texas Corridor

    01/30/2008 3:09:13 PM PST · by Tolerance Sucks Rocks · 11 replies · 300+ views
    Land Line Magazine ^ | January 29, 2008 | David Tanner
    Some Texans are afraid of losing their land to the Trans-Texas Corridor while others loathe the thought of a quarter-mile-wide swath of toll roads and railway lines transforming the countryside into a superhighway. People continue to turn out in droves at public meetings concerning the controversial Trans-Texas Corridor proposal, specifically the portion known as the TTC-69 proposed from Brownsville to Texarkana. A meeting Monday, Jan. 28, at the fairgrounds in Austin County was no exception, drawing more than 1,000 people. Opposition to the proposed corridor has come from people in all walks of life, said Chris Steinbach, chief of staff...
  • Study: Toll roads alone won't pay for U.S. highway needs

    01/15/2008 3:12:07 PM PST · by Tolerance Sucks Rocks · 22 replies · 119+ views
    Dallas Morning News ^ | January 15, 2008 | Michael A. Lindenberger
    More and higher tolls won't be enough to pay for the nation's highway needs, a bipartisan study panel chaired by the U.S. Secretary of Transportation said today in a long-awaited report. Instead, Congress will need to raise the federal gas tax by 25 to 40 cents a gallon over five years, according to the National Surface Transportation Policy and Revenue Study Commission. The 12-member commission is a bipartisan panel formed by Congress in 2005 to rethink the way the nation builds and pays for its highways and transit systems. "There is no free lunch," Jack Schenendorf, vice chairman of the...