Government

Gov. Perry announces $49 million to aid defense communities

Low-Interest Loans for Road Improvement and Infrastructure Projects available for communities impacted by the Base Realignment and Closure (BRAC) 2005 action

From the Office of Gov. Rick Perry

March 28, 2007

AUSTIN–Gov. Rick Perry March 16 announced the first allocation of funds under the Texas Military Value Revolving Loan Fund of more than $49 million in low-interest loans to the City of Corpus Christi and the Port of San Antonio for critical road improvements and infrastructure projects.

In 2003, the legislature passed and the governor signed legislation creating the $250 million Texas Military Value Revolving Loan Fund (TMVRLF). These funds are distributed by the Texas Military Preparedness Commission.

The TMVRLF targets defense communities that seek to enhance the military value of the local installation; assists defense communities adversely impacted by a Base Realignment and Closure (BRAC) 2005 action through economic development projects to attract new industries and create new job opportunities; and assists defense communities positively impacted by a BRAC 2005 action by funding new infrastructure, utilities or transportation needs.

The awards include:

$10.6 million to the City of Corpus Christi to alleviate Port Avenue’s bottleneck configuration for port access. Redevelopment of the roadway will enhance the port’s viability as a strategic military port; facilitate military deployments through the Port of Corpus Christi; and is critical to the development of property adjacent to the port. Funds will also be used to support the extension of the Navy’s Waldron Field Runway.

$38.3 million to the Port of San Antonio to build a 90,000 square foot Air Cargo Terminal that will accommodate any size cargo plane, and construct two office and warehouse buildings.

The TMPC is accepting letters of interest for additional TMVRLF loans.

For more information on the TMVRLF, visit http://www.governor.state.tx.us/divisions/tmpc/loan