Summary and status of concession agreements (CDA/DB) in Texas : final report.
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Summary and status of concession agreements (CDA/DB) in Texas : final report.

Filetype[PDF-2.79 MB]


English
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  • Creators:
  • Corporate Creators:
    Texas A&M Transportation Institute
  • Subject/TRT Terms:
  • Publication/ Report Number:
    PRC 16-54F
  • Resource Type:
    Tech Report
  • Geographical Coverage:
  • Corporate Publisher:
    Texas A&M Transportation Institute
  • Abstract:
    Concession agreements have been utilized across the United States as a way for state departments of transportation and local governments to deliver roadway projects in a fiscal and budgetary environment that has seen less public investment in infrastructure due to revenue shortfalls. The Federal Highway Administration (FHWA) has laid out several reasons that these agencies have increasingly looked to concession agreements as a mechanism for completing roadway projects. These include: - The ability to share risk with the private sector. - An increase in available upfront financing through funding from a private firm. - An increase in the debt that can be taken on with private-sector involvement. - Incentives to better manage a project so time and money are saved in the long run (1). FHWA describes a variety of compensation methods that concession agreements can employ to compensate the private sector for delivery of the project. These include tolls collected by the private-sector partner, availability payments made by the public sector to the private partner, and shadow (pass-through) toll payments made by the public sector based on vehicle traffic on the roadway. Additionally, where a toll-based concession arises on an existing facility that is producing more revenue than needed to repay debt, payments have been made by the private partner up front based on the future revenues that the private partner anticipates receiving (1). The Transportation Policy Research Center report Public-Private Investment Models for Roadway Infrastructure (2) provides a more detailed description of these compensation methods. Purpose of the Study The purpose of this research was to provide policy makers with a comprehensive summary of concession agreements in the state of Texas. This report synopsizes past concession projects in Texas from a financial and operational perspective.
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