FOR IMMEDIATE RELEASE
May 26, 2016
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AUSTIN, TX - Today, at the Texas Transportation Commission (TxDOT) meeting, the Commission granted final approval of a $42.2 million State Infrastructure Bank (SIB) loan for the Hidalgo County Regional Mobility Authority (HCRMA) to be used for the State Highway 365 Project. TxDOT and HCRMA have been proceeding with the development of the SH 365 project in Hidalgo County that includes three segments of both toll and non-toll improvements. The $42.2 million will pay for costs of right-of-way, utility relocation, and construction of SH 365 to better prepare the Rio Grande Valley for commercial trade.
Senator Juan "Chuy" Hinojosa was in attendance at the hearing today to offer his appreciation to TxDOT as well as to highlight the importance of this project:
"I thank the Commission for approving the $42.2 million SIB loan for the Hidalgo County RMA and for working with us throughout the lengthy process. The SH 365 Project is critical for our region because this is the corridor that will facilitate the flow of commercial traffic coming in from Mexico, and get the trucks off our city streets. We generate $200 billion in trade with Mexico every year, which is key, not only here in the Valley in terms of creating jobs, but for the entire state of Texas. This is an important investment for our future since transportation is the lifeblood of our economy."
TxDOT Chairman Lewis offered his remarks:
"As a result of the hard work by leadership from the HCRMA and other legislative and local officials from the area, the Rio Grande Valley will have a very important international freight and congestion relief corridor, State Highway 365. Investment such as this is crucial to the future of the Valley and our state’s economic growth. I am glad that we have been able to work with our partners at HCRMA to further this important corridor."