Americas Interchange Project

closed

The Americas Interchange is a four-level, fully directional interchange between I-10 and Loop 375 15 miles east of downtown El Paso, Texas. The project was constructed in three phases. A precursor project included the extension of the Loop 375 main lanes from North Loop Road across I-10 to Bob Hope Drive This project opened in 2005 and included the completion of the existing bridge over I-10 along with the interchange's aesthetic improvements that serve as a gateway to El Paso. Phase I, completed in 2013, consisted of the construction of 3 direct connectors between Loop 375 and I-10: Southbound Loop 375 to westbound I-10 Northbound Loop 375 to westbound I-10 Eastbound I-10 to Northbound Loop 375 Funding for Phase I included a form of tax increment financing called a Transportation Reinvestment Zone (TRZ). El Paso was the first major city in Texas to implement TRZs, first created by the State Legislature in 2007. TRZs function similarly to Tax Increment Financing (TIF) instruments, but can support a broader range of transportation projects. The City's first TRZ was rescinded due to the quality of the zone's estimated revenue data and contiguity issues. Two TRZs that followed and approved in 2010 included new boundaries and recalibrated revenue estimates. These TRZs now serve as key funding mechanisms for implementation of El Paso's 2008 Comprehensive Mobility Plan (CMP), which included the Americas Interchange Phase I's direct connectors. One hundred percent of the annual property tax increment in the TRZ is required to be set aside for identified projects. The TRZs will ultimately generate an anticipated $70 million to implement CMP projects. Since 2008, TRZ revenue has financed portions of several projects including $30 million for the interchange. This revenue is pledged to the Camino Real Regional Mobility Authority, who in turn will repay a Texas Department of Transportation's State Infrastructure Bank loan. The City of El Paso backs this repayment source, as required by state regulation. Phase II constructed 3 additional direct connectors: Westbound I-10 to northbound Loop 375 Westbound I-10 to southbound Loop 375 Eastbound I-10 to southbound Loop 375 Phase III constructed the remaining 2 direct connectors: Southbound Loop 375 to eastbound I-10 Northbound Loop 375 to eastbound I-10

High