Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DB
# of Projects: 1
100% of the Results

Background informationProject Created: February 19, 2011

Project Name: iROX I-75 Road Expansion Project
Year in Operation: 2010
Sector: Transportation
Subsector: Bridge, Roads
Status: In Operation
Type: Substantial Alteration of Existing Facility
Description: The project scope included the resurfacing of the existing four lanes of I-75 and adding one new 12-foot travel lane northbound and southbound with 10-foot shoulders over a 30-mile stretch. The primary driver of the project was to significantly reduce congestion on this frequently traveled stretch of roadway.
Delivery Method as described in the country where it's located: Design-Build-Finance
Is the project still active: Yes
Comments:

Project Locations

Address: 6230 Golden Gate Pkwy
City: Naples
State: Florida
Country: United States of America

Address: 3602 Colonial Blvd
City: Fort Myers
State: Florida
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Land: The Interstate was widened to the inside, using the pre-existing right-of-way, eliminating the need to purchase and acquire land for additional lanes. However, right-of-way was purchased off-site in advance of the project for stormwater treatment ponds.
Checkbox Checked Revenue Stream (Cash Flow) Created Through Initial Commitment of Public Sponsor(s): The Design-Build-Finance entity financed the project with a commitment from FDOT to be fully reimbursed within 5 years of the project beginning. Based on the awarded bid amount for the project, the Department scheduled payments to the Design-Build Firm on a quarterly basis. Funds were available beginning January 2007, and each quarter thereafter, additional funds were available to be paid out to the Contractor based on their production on the project. The first payment to the Contractor was in September 2007 and monthly payments continued until the available funds ran out in August 2008. The Design-Build Firm then received quarterly payments until the final payment, which will be October 2011.
Checkbox Checked Environmental Clearance: The Design-Build Firm was responsible for obtaining all environmental permits prior to construction. Permitting agencies involved included the South Florida Water Management District, Florida Department of Environmental Protection, and the Army Corps of Engineers. The permits obtained were for stormwater management permitting, wetland protection measures, wetland mitigation, requirements for protected species, etc. All efforts and costs associated with permitting and mitigation were up to the Design-Build Firm.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: The public sponsors for the project included State and Federal dollars in FDOT’s 5-year work program, growth management funds from 2005 legislation, the Transportation Regional Incentive Program, Collier County Florida, and U.S. Congressmen secured funds.

Arrow Right
Checkbox Checked

Direct Cash Support: All five of these public sources/sponsors are providing direct cash support to the project. The growth management funds are contributing $106 million, the Transportation Regional Incentive Program is contributing $4 million, Collier County is contributing $16 million, and the federal funding secured by congressmen Connie Mack and Mario Diaz-Balart contribute $81 million.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: The Design-Build Firm bid the project knowing they would be paid back on a quarterly basis over a period of 5 years. Their bid had to include their cost to finance the project. However, FDOT did make progress payments to the Design-Build Firm based on their project production and based on the quarterly funds available for payment. The dollars from the 5 funding sources were put into FDOT’s work program and cash flowed over the 5 years.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for both initial design and construction with a single entity. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Initial Design and Construction
3
0
Forms
Description
Other
 

Project Value (If and As Known)

Date of Estimated Project Value: February 19, 2011
Project Value
Hard Cost
Hard & Soft Costs
Total
$200-500 Million US
(none)

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