AUSTIN (KXAN) — City officials confirmed Tuesday a bond election could be on the horizon for Austinites as transportation leaders eye new funding opportunities for its Interstate 35 "cap and stitch program."
The cap and stitch program comprises deck coverings that would sit on top of sunken portions of the highway and could host community spaces like parkland and open space, shade structures, art displays and other amenities. The city has been pursuing it in tandem with the Texas Department of Transportation's I-35 Capital Express Central project near downtown Austin.
On Tuesday, city transportation experts gave a briefing to Austin City Council on the various funding mechanisms under consideration with the cap and stitch program. On Thursday, council will consider whether to submit an application with the State Infrastructure Bank — overseen by TxDOT — for up to $191 million to go toward the program.
That potential $191 million could possibly be broken down to fund the following elements:
Staff's preliminary estimates anticipate the construction costs for the roadway elements, cap decks as well as amenities on top of the caps could cost around $868 million. Once constructed, city officials estimated the annual operating costs could amount to about $50 million.
The potential city bond and State Infrastructure Bank's loan are two of several funding opportunities city leaders are eyeing. There are also loan opportunities via the Transportation Infrastructure Finance and Innovation Act, and Richard Mendoza — director of the Austin Transportation and Public Works Department — added the federal government is expected to put out another round of mega and infrastructure grants this summer.
There are also philanthropic, public-private partnership opportunities. Other cities that have implemented highway caps have gone this route and seen success, staff said.
City leaders also recently celebrated securing $105.2 million in federal dollars to go toward the program, specifically covering the costs of a cap running from Cesar Chavez Street to Fourth Street.
Should council approve Thursday submitting an application for a State Infrastructure Bank loan, city leaders said they have a draft poised and ready to go. That process could take about six months to undergo a review, with city leaders expecting to hear a response in late summer or early fall.
Concurrently, Austin transportation officials will roll out a public engagement process in the spring and fall to solicitate community feedback on which amenities should be incorporated into the caps. Staff are expected to host a public open house in May, followed by feedback and input sessions from June through August before an additional public open house in September.
In November, council will reconvene to consider its funding commitments to TxDOT, with a $174 million funding commitment due to the state transportation agency in December.
