The Texas Department of Transportation (TxDOT) will be considering a motion to officially seek financing for the anticipated state seizure of Highway 288 in Houston, which would be considered an unprecedented move that may have far-reaching implications beyond the Houston area.
Texas announced back in April of its intent to terminate an agreement with a consortium of private companies, writing a $1.7 billion check and taking over operational control of the managed toll road, which would be the next step in the process.
While this story has been covered extensively by outlets from the Houston Chronicle to Texas Scorecard, what has not been stated by TxDOT this highway takeover is in the best interest of Texas taxpayers.
There are a series of questions that ought to be answered before nearly $2 billion in state money is expended to purchase an already-financed and operating road.
If TxDOT will be in the business of purchasing toll roads, why stop here? Will TxDOT eliminate the tolls on the road, once purchased?
According to another media outlet last week, TxDOT confirmed they will maintain present tolls with no defined end date. In light of this, Texas Politics asked around and determined that Texans will pay more to use this road going forward than they would if this seizure was prevented. Documents reviewed by Texas Politics confirm that the most recent offer from the consortium of companies proposes an immediate 30% reduction of tolls with a pledge to cap future toll increases.
This offer would allow the state to keep $1.7 billion that could be invested in any number of other projects, give Houston drivers an immediate 30% break on the cost of tolls and certainty of capped future increases, prevent Texas from having to maintain the road and additionally from needlessly terminating agreements with private companies that could have a chilling effect on future private sector investment.We have reached out to TxDOT for comment and will report back with any reaction or with follow-up from tomorrow’s hearing.
This is a developing story
