If the county opts for selling or leasing, the court is not expected to make a specific decision for months. It could authorize a more detailed study. The county would need to ask the state Legislature to make changes in laws governing toll roads if it sold or leased the system, the report found. JP Morgan and Popular Securities advised Commissioners Court to determine how much control it needs to exercise over the system before deciding whether it should sell the system to the highest bidder.
The study noted that motorists likely would turn to the county with complaints about tolls or other issues, no matter who owned the system. The county wants "to avoid having a successful sale and a failed public policy," the JP Morgan and Popular Securities report said. Citigroup and Siebert recommended that the county keep the toll road system under its control, but study ways to better leverage its finances for other future expansion. The oil-based Houston economy peaked in March Between March and March , Houston lost about Employment numbers did not return to the March levels until Houston diversified from the oil and natural gas industry to move toward economic recovery.
Houston is the home of the Texas Medical Center, the chief provider of specialized health services in the southwestern United States. Health care employment in the Houston metropolitan area grew by 39, employees between and Additionally, the Port of Houston is one of the largest ports in the United States, handling million tons of cargo in Today, residential and commercial development is dispersed throughout the city of Houston, in part due to the large supply of inexpensive land and good freeway access.
Large residential developments are located in the west and northeast and other clusters of residential development are located near employment centers. Upstream oil businesses production, exploration, services have established a major presence in west Houston near I and the Sam Houston Tollway known as the energy corridor and downtown Houston.
Downstream oil businesses refining, petrochemicals and plastics, or services associated with engineering and construction are frequently located near the ship channel in east Houston, and engineering and construction firms are also located along on U.
During Houston's population boom in the 's, residents began to locate outside of downtown along U. By the end of the decade, congestion along the radial freeways was a substantial issue and accessibility between the radial corridors was poor. As a result, Houston's first Regional Mobility Plan was developed in to identify transportation needs, available funds, and funding shortfalls in the region.
The Regional Mobility Plan devised a system that could handle the existing and projected population and traffic growth in a reasonable, efficient manner? Through the Regional Mobility Plan, it became clear that additional money would be needed to construct the toll system.
As a result, bonds were issued by Harris County backed by property taxes with the plan to pay them off through toll revenues. Voter approval was obtained in a September referendum. The Beltway 8 was designated as part of the Federal Aid Highway System in The lack of federal and state funds for construction of the facility was apparent by which led to the creation of the Harris County Roll Road Authority.
An initial feasibility study was conducted and updated in and The 8. The full This portion of Beltway 8 was originally constructed as a 3-lane toll road in each direction with 3-lane free frontage roads on both sides. The interchange with I was reconstructed in as part of the I freeway expansion. Currently, the 6-lane toll facility is being widened to an 8-lane facility. Construction of the toll road has increased mobility and allowed for development along the radial freeways in west Houston.
By this increased to approximate million vehicles a year. EZ Tag holders can access the initial There are also three toll plazas located on this segment? By signalizing major thoroughfares, the project has also improved safety in these locations.
The Sam Houston Tollway has been recognized by the International Bridget, Tunnel and Turnpike Association as one of the nation's safest toll roads to drive. One economist estimates that about half of the growth in west Houston can be attributed to the construction of Beltway 8.
The Sam Houston Tollway has allowed high speed access between numerous areas of Houston.
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