TRV’s new price tag: $880.2 million in 2021 dollars

July 23, 2009 · Filed Under Events and News 

According to Fort Worth Business Press reporter, Robert Francis, “A major re-examination of the Trinity River Vision project will increase the price to $880.2 million in 2021 dollars, add two years to project’s timeline and change several major design features, including the bridges and the width of the channel.

To pay for the project, Trinity River Vision Authority officials are recommending its board approve a 40-year tax increment financing (TIF) method. The TIF would be an 80/20 split, with 80 going to pay for the project and 20 percent to the taxing entities. The TRVA also would use a non-interest loan from the Tarrant Regional Water District valued at $226 million, to be paid back by the TIF.

The Trinity River Vision board of directors received a briefing on the funding options and new cost and project recommendations resulting from the review by Freese and Nichols Inc. at their July 16 meeting. The next step will be to seek approval from the various TIF boards involved to go forward with the plan.

One major change will be to the three bridges being built for the project. When the U.S. Army Corps of Engineers said the TRVA should widen the channel to handle more water flow, the change impacted the cost of the bridges for the project. The bridge cost was originally $63.6 million, but with the new channel specifications, the cost ballooned to $114.7 million. Granger said he and his staff are recommending the board not build the original Bing Thom-designed bridges and examine other bridge options that fit the project’s budget. The TRVA staff will provide the board with suggested options that meet the original bridge budget. Those decisions must be made rather quickly, Granger said, as bridge design will begin in the next 60 days.

The board was interested in adding in bypass channel improvements – trees, landscaping and other architectural enhancements – that would add about $29.4 million to the project cost. These improvements would be the responsibility of local funding and would increase the costs of the project to $909.6 million in 2021 dollars.

Adopting the new TIF plan will allow the TRVA to potentially fund other optional components of the project including:

  • Transportation options, such as light rail
  • Helping relocate the Police and Fire Training Center
  • More Gateway Park improvements, including a sports complex, amphitheater parking and a hike/bike trail extension
  • Canals at several locations throughout the Central City portion of the project
  • Help fund environmental cleanup for an area just north of the river”

To read the full story, visit:

Background: The Trinity River Vision development is an 800-acre flood control and mixed-use development slated for north Fort Worth that involves rerouting the Trinity River in the area. The rechanneling of the Trinity will create two islands and a 33-acre lake to the north of downtown Fort Worth. In May 2008, the Army Corps of Engineers recommended the river project be combined with a development slated for the 1,000-acre Gateway Park area.


Comments are closed.