Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: May 16, 2017

Project Name: I-4 Ultimate (Orlanda FL Area Expansion)
Year in Operation: 2021
Sector: Transportation
Subsector: Roads, Bridge, Transportation Terminal
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: Reconstruction of 21 miles of Interstate 4 from the Kirkman Road, Orange County (in the Attractions area SW of Orlando) through Downtown, through Ivanhoe, and Altamonte to east of State Road 434 in Seminole County northeast of Orlando In 2017, this is the largest infrastructure project in Florida history, and will rebuild I-4, add two new dynamically tolled Express lanes in each direction, replace more than 140 bridges, reconfigure 15 major interchanges, reconstruction the entire existing roadway and increase the posted speed to 55 mph. Connections for commuters to access the Longwood SunRail station near SR 434.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: Labeled as DBFOM on US DOT TIFIA page.

Project Locations

Address: W State Rd 434 and FL-434 & I-4
City: Longwood
State: Florida
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: Expansion of Existing I-4, widening for addition of lanes in both directions.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Availability payments from two tolled express lanes in each direction are promised to the concessionaire over period of repayment of bank debt and US DOT TIFIA loans.
Checkbox Checked Environmental Clearance

Souces of Project Support (Monetary)

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From Public (Government) Sources to Producers

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Direct Cash Support: $1.035 Billion in milestone payments from Florida Department of Transportation during the design and construction phase.

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Credit Enhancements: Total TIFIA Assistance is $949 Million from US DOT. TIFIA Tranche A Loan of $127.291 Million from US DOT TIFIA Tranche B Loan of $822.174 Million from US DOT Tranche A will be repaid in full by the second Final Acceptance Payment from FDOT. Tranche B is repaid from the Availability Payment made by DGOT through final maturity in 2052.

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From Private Capital Markets Directly to Producers as Debt: Senior Bank Deb of $484 Million from Societe Generale, MUFG, Canadian Imperial Bank of Commerce, Svensk Exportkredit, and Credit Agricole. Final loan maturity is expected in 2052 for Tranche B.

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From Producers as Equity: Equity Contribution of $103.5 Million from Concessionaire - I-4 Mobility Partners, 29% equity partner is John Laing Investment Limited (50% project owner); 71% equity partner is Skanska Infrastructure Development (50% project owner). Design-Build JV of Skanska USA Civil Southeast (40%), Granite Construction Co (30%), and Lane Construction Corporation (30%) is design and building for I-4 Mobility Partners. Design JV of HDR Engineering and Jacobs Engineering Group is Designing for the DBJV. Infrastructure Corporation of America is the O&M Contractor for I-4 Mobility Partners. Fiscal close of the concession was in 2014.

Project Delivery & Finance Method

Project Delivery:
Design Build Operate Maintain (Partially Public Finance). Public Sponsor contracts for initial design, construction, and for long term operations and maintenance with a single entity. At the end of the term, Public Sponsor regains control of the facility.
Is there an independant checking engineer? No
Project Finance Method: All or Partially By Public Sponsor

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
Combined Term: Initial Design, Construction, O&M Period
37
0
Forms
Description
Other
Specially negotiated. 

Project Value (If and As Known)

Date of Estimated Project Value: May 16, 2017
Project Value
Hard Cost
Hard & Soft Costs
Construction
$1-5 Billion US
$1-5 Billion US
Total
$2-10 Billion US
$2-10 Billion US

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