The Texas Transportation Commission took action Thursday to fund several safety improvement projects, including allocating $20.5 million in Proposition 14 bonds for the widening of U.S. Highway 380 in Denton County from the Wise County line to I-35 in the City of Denton.
The Proposition 14 bond program allows TxDOT to borrow money on a short-term basis to improve cash flow and cash management and to issue general obligation bonds secured by the State Highway Fund to accelerate transportation projects. The bonds are repaid with money from the State Highway Fund, including gasoline taxes and vehicle registration fees.
Due to the economic downturn, prior projects funded with Proposition 14 bond funds have experienced significant under runs, allowing additional projects to be brought forward for funding, state officials said.
“Knowing this long stretch of U.S. 380 is now funded and will soon be constructed means more than words can say and will benefit thousands of drivers every day,” said Denton County Commissioner Andy Eads.
“This victory is because all of us, from community members, to TxDOT, to the region, state and federal both, concentrated our efforts and worked together to make it happen.”
The widening of U.S. 380 from two to four lanes will occur in two phases:
The western section (Phase I) extends from the Wise County line east to approximately ½ mile west of FM 156. The $20.5 million Proposition 14 funding allocation will go towards funding Phase I along with other local funds and rehabilitation funds. Phase I is currently scheduled to be under construction by Thanksgiving.
The eastern section (Phase II) extends from just west of FM 156 to I-35 in the City of Denton. Construction of Phase II will follow Phase I and be under construction in the spring of next year.