Parker County Judge Mark Riley and the county’s engineering firm Freese and Nichols left the monthly meeting of the Texas Transportation Commission in Austin on Thursday, with approval for up to $6.9 million in reimbursement to the county for the I-20 Interchange at Old Brock Road which will eventually connect with the Ric Williamson Memorial Highway.
The Texas Department of Transportation funding, known as pass-through financing, allows for the county to pay for the project and be reimbursed over time by the state for the transportation construction costs, once the project is complete. Funding for construction of the interchange will come from the Parker County Transportation Bond Program which was approved by voters in 2008.
Parker County’s project is one of only 14 projects approved by the state.
“This is very good news for Parker County taxpayers,” Riley said. “This will allow us to continue improving our transportation infrastructure; and enhance our economic development opportunities while keeping our tax rate low.”
Riley said the county and Freese and Nichols will work to negotiate a contract with the state that will allow the county to stretch its limited transportation dollars.
“As with everything related to our transportation bond program, we are seeking to attain the biggest bang for our buck, so to speak,” he said. “We appreciate the Transportation Commission for their recognition of the importance of our project and we appreciate the support we received from Rep. Phil King.”
Riley also praised Freese and Nichols for their assistance in development of the application which was submitted to the Transportation Commission earlier this year.
The Ric Williamson Memorial Highway is the largest of the 36 projects comprising the Parker County Transportation Bond Program. Originally known as the Western Loop, the road will be completed in five sections – three road segments and two intersections – and the section now under construction will extend south from FM 51 through the FM 920 intersection.
In subsequent project segments, the loop will extend to an intersection with US 180 and further south to an interchange with IH-20. The five segments will form the northwest quadrant of a loop around the City of Weatherford.
The Parker County Transportation Bond program was created to improve mobility and air quality, and facilitate growth and development in Parker County.
For more information about the Western Loop and the Parker County Transportation Bond Program, please visit www.parkercountytransportationbond.com, email email@example.com or call the message center: 817-377-6196 or 940-220-4369.