Location |
Miami, Florida |
Project Sponsor / Borrower |
Florida Department of Transportation (FDOT) Miami-Dade Aviation Department (MDAD) |
Program Areas |
|
Fiscal Year Approved |
Fiscal Year 1999 |
Mode |
Intermodal |
Description |
The Miami Intermodal Center (MIC) comprises a multi-year program of ground access improvements to and within Miami International Airport (MIA). Major project elements include:
|
Cost |
$2,043 million |
Funding Sources |
Federal:
State:
Local:
|
Project Delivery / Contract Method |
Construction Management at Risk |
Private Partner |
None |
Project Advisors / Consultants |
AECOM Earth Tech (Construction Manager [CM]) 82 subconsultants To USDOT TIFIA JPO:
|
Lenders |
Bondholders, USDOT TIFIA |
Duration / Status |
|
TIFIA Credit Assistance |
The original TIFIA commitment amounted to up to $539 million, comprised of two separate obligations:
The FDOT Program Elements loan closed June 9, 2000 and was repaid in full on July 3, 2006. The Rental Car Facility loan closed April 29, 2005 and was amended August 1, 2007. |
Financial Status / Financial Performance |
TIFIA credit agreements: June 9, 2000 (Roadway improvements) and April 29, 2005 (RCF) The first TIFIA loan was for $269 million and was prepaid by FDOT on July 3, 2006 in the amount of $17.1 million including interest, 24 years ahead of the originally scheduled maturity date. Of the $269 million, only $15 million was withdrawn because FDOT replaced it with a more competitive internal loan through the STTF. The second TIFIA loan in the amount of $170 million was approved for the RCC. An additional $100 million was requested and approved in August 2007, bringing the total for the second loan to $270 million. |
Innovations |
|
Related Links / Articles |
|
Contacts |
MIC Public Affairs Program |