“Pass-Through Financing is a new financing tool being used to stretch already limited tax highway dollars and help meet the state’s transportation goals. Essentially, Pass-Through Financing is a way for project developers to fund and be reimbursed for the upfront costs of constructing or expanding a state highway project. The public and private entity developing the project will finance, construct, maintain and/or operate a project. TxDOT will then reimburse a portion of the project cost by making periodic payments to the developer for each vehicle that drives on the highway.”
TxDOT: Open for Business – Pass-Through Financing
WilliamsonCounty is one of the first public entities in the State to take advantage of this (the Pass-Through Finance) program and move forward quickly. The SH 29/IH 35 turnaround structure was the first Pass-Through Finance Project in the State of Texas to go to construction and be completed; setting the stage for reimbursement practices. This program allows for critical road improvements in the state highway system to be designed and built in a timely manner for the citizens of these areas.