In a nutshell
On Nov. 7, council members approved a motion to build on an existing funding partnership with the county that dates back to 2020, according to the meeting agenda. As part of the agreement, $60 million in federal funds will be set aside for the US 380 project.
The county will be expected to send the council $60 million in bond funds that was already committed to US 380. Those funds will be added to the Regional Transportation Council’s local fund for use on nonfederal projects.
The background
In 2020, the Regional Transportation Council greenlit $60 million in federal funds and regional toll revenue for two projects in Frisco and McKinney, according to the agenda.
In return, Collin County committed $60 million to US 380 to replace federal funds taken off the project. Collin County’s bond program funds were otherwise ineligible to contribute to the Frisco and McKinney projects.
The Nov. 7 action would see that money sent to the Regional Transportation Council in exchange for federal funds to be placed on the US 380 project.
What’s next?
The North Central Texas Council of Governments’ Executive Board is expected to vote on the funding swap at a Nov. 16 meeting, Senior Program Manager Christie Gotti said.
In case you missed it
The Texas Department of Transportation announced the blue alignment was selected for the US 380 bypass project in September. The alignment is composed of segments A, C and E, and was TxDOT’s preferred alignment throughout the project’s planning and environmental stages.
Construction is projected to cost about $3.27 billion and is the second-least expensive option compared to other alignments, according to the document. Funding has only been partially acquired for the project.
