Federal loan lightens debt burden for next phase of Grand Parkway in Houston, TX

The next sections of the Grand Parkway will put slightly less stress on the state’s credit card, with the announcement Friday that the federal government will lend some of the money to build the toll road.

The Federal Highway Administration approved a $605 million Transportation Infrastructure Finance and Innovation Act loan for segments H and I of the tollway, currently under construction in Liberty and Chambers counties.

The lanes are scheduled for completion in May 2022, with one or two toll lanes in each direction from Interstate 69 near New Caney to Interstate 10 in Mont Belvieu.

Drivers, however, will not join in the windfall as toll rates will be unaffected by the federal loan.