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RMA interim finances: $8M Wyler tranche, $3.5M potential Border Highway West debt removal; bike‑share ridership up
Summary
The RMA's interim financial statements show an $8 million draw for the Wyler project, a pending $3.5 million removal tied to a Border Highway West termination agreement, about $600,000 investment income year‑to‑date and gains in the bike‑share program.
At its April 9 meeting the Camino Real Regional Mobility Authority board reviewed second‑quarter interim financial statements and related program reports covering investment income, the RMA bike‑share program and an analysis of local versus nonlocal labor used by engineering consultant teams.
Robert Studer, who led the finance review, said the RMA received an $8,000,000 initial tranche from Texas Parks and Wildlife after construction on the Wyler project began in early February; subsequent draws are scheduled at 40% and 75% completion. Studer told the board that the increased cash position reflects that receipt and that project spending is progressing quickly on Wyler.
Studer also highlighted a $3.5 million line item related to a Border Highway West Termination Agreement. The board previously authorized the executive director to work with TxDOT to remove the liability; according to staff that action will improve the RMA—s bottom line by $3.5 million once removed and by about $4.0 million after a companion agreement that addresses legacy toll‑plan debt is executed. Staff emphasized those improvements are not yet reflected on the balance sheet.
The investment report showed roughly $600,000 in investment earnings in the first six months of the fiscal year. Studer said the RMA remains in compliance with the Public Funds Investment Act and that he completed required training.
On the El Paso bike‑share program, staff reported a 7% increase in ridership and revenue compared with the same quarter last year. In Q2 the program moved to app‑only checkouts on Jan. 1; staff reported no observed negative effects from that change. The program expanded a station at Escarte Park in December 2023 and that station's use has grown 69% since its launch in mid‑2024. The RMA deployed 36 e‑bikes acquired through a grant (with a 20% local match) and is readying 37 new bikes to enter service later in April.
Staff also presented historical data from a general engineering consultant (Atkins) showing about a 70% local labor share over 16 years, with spikes in nonlocal labor corresponding to specialized projects (for example, the streetcar design in 2012–14 and the recent Wyler project). Staff said nonlocal labor spikes typically reflect specialized expertise not available locally.
Board members asked follow‑up questions and were invited to review the reports in more detail at upcoming finance committee meetings. The board accepted the interim financial, investment and program reports by voice vote.
Clarifying details - Wyler project: $8,000,000 received as first tranche from Texas Parks and Wildlife; future draws at 40% and 75% completion (source: Robert Studer). - Border Highway West termination: $3.5 million currently shown as a liability that the board authorized staff to remove; companion agreement could remove an additional $0.5 million (source: Robert Studer). - Investment income: approximately $600,000 in first six months (source: Robert Studer). - Bike‑share: 7% ridership/revenue increase; Escarte Park station grew 69% since Q2 2024; 36 e‑bikes deployed via grant with 20% match; 37 bikes arriving later in April (source: staff report).
