AASHTO Journal, 8 February 2013
Florida Department of Transportation announced last week it has received approval from both Governor Rick Scott and the state legislature to move ahead on plans for a public-private partnership for its I-4 Ultimate Project in Central Florida.
The $2.1 billion project will replace about 21 miles of the original I-4 infrastructure, built in the 1960s, which includes 56 new bridges (complete with pedestrian crossings), 68 replacement bridges, and 15 major interchange reconstructions. The public-private partnership was an important piece of the project. A pay-as-you-go approach to constructing the project would have extended the project out through a 26-year period. With the partnership, FDOT estimates the same project will take only five years to complete, once construction begins.
“I’m excited to have the department’s largest P3 to date started and to get this mega-project moving forward,” said FDOT Secretary Ananth Prasad in a statement. “Our goal is to have financial close on the project by the summer of 2014 with construction beginning later that year or early 2015.”
FDOT said the project will add four Managed Lanes (similar to the new HOT Lanes in Virginia—see related story: bit.ly/AJVAhotlanes) or tolled Express Lanes.
“The strategic investment of more than $2 billion will enhance safety and relieve congestion in one of the most heavily populated areas of the state,” Scott said. “With more transportation infrastructure, we’ll provide more support for businesses to move goods and grow, which is great news for Florida families.”
Further information on the I-4 Ultimate Project is available at bit.ly/FLI4project.