TEXAS STATE HIGHWAY 255

'State Highway 255' or 'SH 255' is a state owned toll road bypassing Laredo, stretching from the Colombia International Bridge northeast to Interstate 35 at exit 24.

Contents

History

References

History

The route was originally approved in 1997 as a privately owned toll route for mainly truck traffic to bypass the city of Laredo for traffic congestion. The route was opened as the Camino Colombia Toll Road in October 2000, costing around $90 million. In August 2001, landowners that were shareholders of the route filed a lawsuit, claiming that profits and traffic usage were less than expected. The failure of the route was attributed to both the price for truck traffic ($16), and the sudden approval of a new freeway connecting route from the fourth bridge crossing along SL 20 to Interstate 35. The toll road was foreclosed on late in 2003, and was auctioned off on the steps of the Webb County courthouse January 6, 2004tollroadnews.info,[2]. It was purchased by its main creditor, the John Hancock Life Insurance Company, for the minimum $15 million, 1/6 of the construction value. The only other bidder was the Texas Department of Transportation at $11 million. The route was subsequently closed to all traffic. In May 2004, TXDOT purchased the route from John Hancock for a negotiated $20 million, and reopened the route in September, dropping the truck toll price to $10http://tollroadsnews.info/artman/publish/article_649.shtml.

References

1. Texas Department of Transportation, [1]