DOT Loans $840M For Houston Highway Project

Law360, New York (February 7, 2014, 1:04 PM EST) -- The U.S. Department of Transportation on Friday closed an $840 million loan to help build a $2.5 billion four-lane toll road in greater Houston, said Transportation Secretary Anthony Foxx.

The 55-mile Grand Parkway Project is supposed to go through northwest Harris County and southeast Montgomery County and link up to the proposed 184-mile Grand Parkway System, a highway encircling Houston's metropolitan area. The loan will be made under the Transportation Infrastructure Finance and Innovation Act, the department said, and will help the Texan region deal with...
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