FINAL PHASE OF FINANCING FOR THE LBJ MANAGED LANES PROJECT IS COMPLETE
DALLAS (June 17, 2010)…The LBJ Infrastructure Group, a consortium of public and private partners, announced today that the group has secured the final phase of financing for the $2.78 billion expansion of LBJ Freeway in Dallas. The Dallas Police and Fire Pension System is an equity partner in the LBJ Managed Lanes Project.
The LBJ expansion is the second North Texas infrastructure investment made by the Pension System. The first was as an equity partner in the North Tarrant Express (NTE), a project consisting of a series of improvements along I-820 and Airport Freeway in North Tarrant County. The Pension System is one of the first public US pension funds in the country to invest directly in the building and maintenance of a major road infrastructure project. Both projects are designed to improve transportation, relieve traffic congestion and pollution, and reduce fuel consumption.
Both projects represent a commitment by the Dallas Police and Fire Pension System to help build a state-of-the-art highway system in Dallas. The Pension System is a model for the nation in using public pension funds to help build needed highway infrastructure. Earlier this year, the Pension System was named the top mid-sized public pension plan in the country for 2010 by Money Management Letter.
The 9,000 Dallas police officers and firefighters, retirees, surviving spouses and dependents are investing in Dallas neighborhoods to make a better community and a better place to live and work.