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Bridge staff says Laredo received $25M BUILD grant for World Trade Bridge; committee probes financing and revenue allocations
Summary
Bridge staff reported a $25 million federal BUILD grant award for the World Trade Bridge and outlined required matches and bond financing; committee members raised questions about prior allocations from bridge revenues, the distribution formula with the general fund, and timing for bond financing.
Bridge system staff announced the city received notice on July 6, 2026 that it had been awarded a $25,000,000 federal BUILD grant for the World Trade Bridge expansion.
"We received, notice of this grant on July 6. We received a, 25,000,000 federal bill grant for the World Trade Bridal," staff reported (transcript language: "Bridal" in original). Staff explained the grant is reimbursable, not an up‑front award, and described the local match and financing approach: the project application assumed a required local match of roughly $9.56 million (described in the briefing as available from future bridge system revenue bonds) plus $1,000,000 from MPO funds. Bridge staff said the combined match represents about 24.8% of total project funding under the submitted application and that bond financing is planned to move in January to support design and early work.
Committee members pressed for more detail on how bridge revenues have been used in prior years and whether the 50/50 revenue allocation in the existing resolution with the general fund has been followed. Jeremy Gonzales said the committee should scrutinize prior distributions and noted a multi‑year difference that he said could have provided additional bridge funding earlier.
Staff said they are preparing an agenda item to show a proposed procedure for how bridge revenue percentages will be managed and that revisions to the resolution addressing the bridge/general fund split are under consideration; staff also said they will present financing timing and a proposed bond plan to the committee and council.
Bridge staff also described project sequencing adjustments: World Trade Bridge construction was moved from January 2027 to mid‑2027 to align with planned bond financing and toll‑rate revenue timing. Staff said other projects (including a Colombia/Columbia bridge expansion and related design work) will require additional funding and amendments to design contracts; design amendments were expected on a future council agenda.
The committee asked that the finance director attend an upcoming meeting to review the proposed bond plan and bridge budget so members can examine the distribution history and whether prior years’ balances could have altered the timing or scale of planned projects.
Chair noted the committee’s role is advisory and requested staff provide the grant NOFA details, the reimbursement schedule, and the proposed financing timeline ahead of the next meeting.
