The City of Forney received their first partial reimbursement payment from TxDOT during the week of May 13, 2013. The reimbursement is a payment for the city’s use of the Pass Through Toll funding program used to make major road improvements to FM 548 at US Hwy 80, FM 741, and FM 740.
The reimbursement totaled $3.6 million which is $500,000 more than original estimates for the reimbursement. The City of Forney is expected to receive $40 million in total reimbursements from the state from the use of the Pass Through Toll program. The reimbursements will be used to repay voter approved bonds used for the construction projects.
“In October 2012, the City Council voted unanimously to commit any accelerated payments received from the State of Texas to early retirement of the road project bonds. This will allow the City to pay off the bonds in about 10 years, instead of the original 20 year term. This accelerated repayment will result in a savings to the Forney taxpayers of almost $6 million.” states a news release from the City of Forney.
"This has been a major cooperative effort," said Mayor Darren Rozell. "The voters approved the bonds for these three road projects in 2006. Staff has worked diligently through many obstacles to move these projects forward. Council has had to make difficult decisions to ensure we had the right people on the job. We are now positioned to complete the final project, save taxpayer dollars by paying off the bonds early, and enjoy a much improved roadway system in Forney."
The final scope of the projects will be completed with the completion of the FM 740 project. The FM 740 project consists of the stretch of FM 740 between the Pinson Road bridge and the intersection of Pinson Road and Ridgecrest. FM 740 will be widened to four undivided concrete lanes and include curbs, gutters, and sidewalks. According to Assistant City Manager Gina Nash, the construction work is projected to be completed early to mid 2014.