Mr. John Speed
Texas Department of Transportation 3901 East U.S. Highway 80 Odessa, Texas 79761
Re: Overpass at Loop 250 North and County Road 1150/County Road 60 in Midland County, Texas
Dear Mr. Speed:
We are pleased to inform you that the Midland Development Corporation would like to contribute Two Million ($2,000,000.00) Dollars to assist the Texas Department of Transportation with the cost of constructing an overpass at the intersection of Loop 250 North and County Road 1150/County Road 60 in Midland County, Texas. The Midland Development Corporation was created in 2002 when the Midland voters approved a quarter-cent increase in the local sales and use tax to promote economic development, construct new and expanded infrastructure and promote economic diversification. The Midland Development Corporation is governed by Sections 501 and 504 of the Texas Local Government Code.
As you know, the Midland area has seen a dramatic increase in traffic in the last few years. We think the citizens of Midland and citizens in the entire area would benefit from the increased mobility and safety that this overpass would provide. The completion of Loop 250 North is a top priority for the Midland Development Corporation and the City of Midland.
The Midland Development Corporation is prepared to enter into a Donation Agreement, Advanced Funding Agreement or any other appropriate agreement. We appreciate you meeting with us and always being available to discuss Projects in the Odessa District. We hope that this will be the beginning of a long-lasting partnership between the Texas Department of Transportation and the Midland Development Corporation. Thank you for your attention to this matter.
If you need any additional information or if I can be of any assistance do not hesitate to contact me by calling (432) 352-2821.
Chairman of the Midland Development Corporation