| NTTA's 121 toll road win hits snag with federal funding
State transportation officials are still awaiting word from Washington on whether letting the North Texas Tollway Authority build the State Highway 121 toll road will result in forfeiture of hundreds of millions of dollars in federal funds. With an Aug. 27 deadline looming to sign the Highway 121 contract, the Federal Highway Administration's seeming displeasure casts another shadow over the already-contentious process to get the toll road built and running. The FHA's problem centers around the Highway 121 bidding process. The Spanish company Cintra won preliminary approval to build and operate the road. But the Legislature pressured the Texas Department of Transportation to reopen the bidding. NTTA stepped in and took the contract away from Cintra by convincing the Regional Transportation Council that its bid was better for North Texas.
Plan to toll I-80 approved
It's all but certain: Tolls appear to be en route for Interstate 80. Within two years, the 311-mile stretch that cuts across Pennsylvania could see as many as 10 toll plazas under a state bill approved this week. Gov. Ed Rendell is expected to sign the legislation today, though the federal government has yet to sign off on the tolls. The state House approved the transportation bill Tuesday with a 124-79 vote; on Monday, the Senate voted 30-19 on the measure. In addition to I-80 tolls, the bill calls for $750 million in spending this year on highway and bridge repairs, plus on mass transit systems statewide. The plan is designed to grow the transportation spending over the next 10 years, relying heavily on toll revenue from the Pennsylvania Turnpike and I-80.
UPDATE: Are On-time Payment Rewards Worth It?
PALM BEACH GARDENS, Fla. (Dow Jones) -- Growing loan trend: Borrowers who pay on time get rewarded either by cash or with a lower interest rate. Good deal? That depends. Discover Financial Services with its "Motiva" card boasts it will reward cardholders who pay on time for six months with a "pay on time" bonus equal to one month interest. The bonus, available twice a year following six consecutive on-time monthly payments, is designed for those who carry a balance and feel underappreciated. It comes in addition to Discover's promise of cash-back bonuses on purchases and with an attractive 3.9% intro rate. The rate applies both to purchases for 10 months and balance transfers until 2010. The downsides: * If you pay your full balance monthly -- typically the most cost-effective way to own a credit card -- you're not eligible for the bonus.
What's the difference between mobile, manufactured and modular homes?
Some mystery surrounds the financing of mobile homes vs. manufactured homes vs. modular homes. While completing a mortgage loan for a family, I stumbled upon the following guidelines. These clearly are the best I have seen in defining the difference. For definition purposes: .
HCI Mortgage Provides Victims of Katrina with FHA Loan Opportunities
There are many hurricane Rita and Katrina victims that could benefit from an FHA loan that will allow them to borrow 100% of the purchase price, using the FHA 203H program. Many families assume that home ownership is out of reach after struggling through the hurricanes or other circumstances, but HCI Mortgage can help. .
New era in housing for Dare County?
The Outer Banks Community Development Corporation (CDC) held a recent press conference to outline specifics of the affordable housing development to be built in the town of Kill Devil Hills and on Monday held the official ground breaking ceremony.The project — named Nature's Walk — is being developed by Lone Cedar Land Development, LLC and built by its sister company, Coastline Realty and Construction, LLC.The property for the project comprises three unjoined lots totaling about 1.5 acres and located at the corners of 8th, 9th and 10th streets and backs up to Nature Conservancy property. The project includes 20 townhouse units, 15 of which will be priced from $170,000 to $190,000 with the remaining five homes to be sold at market rate starting at $225,000. The 900-square-foot units will have two bedrooms with one and a half baths or two bedrooms with two and a half baths."It is great to see a dream become a reality.
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