Editor’s note: The Fort Report will update these graphics as new numbers become available. The Tarrant Regional Water District releases quarterly updates on the progress of the Panther Island Project.
The nearly $1.16 billion Panther Island project has brought millions of dollars to the banks of the Trinity River. As the project approaches a new phase, total money spent to date has been $746 million.
Four agencies provide funds for the project: Tarrant Regional Water District (the project sponsor), the city of Fort Worth, the Army Corps of Engineers and the Texas Department of Transportation.
“Locally, project partners have continued to do everything we need to do to get out of the way of the Army Corps of Engineers,” Matt Oliver, spokesman for the Trinity River Vision Authority said in a statement. “We have spent the necessary funds to make sure that as soon as they are ready to have a contractor begin digging the bypass channel they can move forward.”
Tarrant Regional Water District, which raised funds for the project through a bond election and tax increment financing, has spent the bulk of the funds so far.
“The US (Army) Corps of Engineers is ramping up to allocate the federal money that has been received,” Oliver added.
The Corps has hired a program manager and started its contracting process to allocate the federal funding that has been received for the project, Oliver said. While some project categories have been fully funded, others haven’t received any allocations. The Fort Worth Report breaks down the project’s latest report to illustrate what has received funding, and what hasn’t
The first graph illustrates how much money that three agencies have allocated: the Corps, the water district and the city of Fort Worth. All the money included in the graph will be used on the flood control portion of the project.
The Texas Department of Transportation completed work on three bridges connected to the Central City Flood project Oct. 1, 2021. The project partners still owe money on the bridges though, after delays led to cost overruns.
So far, local agencies have devoted few resources to related projects. The water district and Fort Worth plan to devote over $71 million to improvements to infrastructure surrounding the project. These are the improvements that the city hopes will make Panther Island an economic and tourism driver, as well as a flood control project.
Emily Wolf contributed to this report.
Rachel Behrndt is a government accountability reporter for the Fort Worth Report. Contact her at rachel.behrndt@fortworthreport.org or via Twitter. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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