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The Florida Department of Transportation (FDOT) has selected the consortium I-4 Mobility Partners as the preferred bidder to develop the I-4 Ultimate Project.
The I-4 Mobility Partners team has been selected to design, build, finance, operate and maintain the project known as the I-4 Ultimate through a 40-year public-private partnership concession agreement at a total design and construction cost of $2.323 billion in year of expenditure dollars. This cost is approximately $860 million less than the highest proposal received by FDOT at $3.180 billion in year of expenditure dollars.
Commercial and financial close is expected to occur later this summer. Construction is expected to begin in 2015 and be completed in 2021.
The consortium is formed by Skanska Infrastructure Development Inc. (equity member), John Laing Investments Limited (equity member), Skanska-Granite-Lane Joint Venture (Skanska USA Civil Southeast Inc.; Granite Construction Company; and The Lane Construction Corporation) as lead contractor, HDR/Jacobs Design Joint Venture as lead engineering firm and Infrastructure Corporation of America (lead operations and maintenance firm).
In February 2014, FDOT announced that it had received and accepted four technical proposals while in March 2014 it received four financial proposals.
The project includes the reconstruction of 21 miles of I-4 from west of Kirkman Road in Orange County to east of State Road 434 in Seminole County. The I-4 Ultimate project adds four tolled express lanes to I-4 while maintaining the existing free general use lanes, providing a choice to motorists. The express lanes will be operated with variable tolls which will be adjusted to improve traffic flow throughout the corridor. FDOT will retain the toll revenue and will control the toll rates.
The I-4 Mobility Partners team provided FDOT with additional technical enhancements in its proposal that included direct connections from I-4 express lanes to SR 408, capacity improvements in the form of additional auxiliary lanes and turn lanes, pedestrian bridges, and enhanced aesthetics along the facility.
FDOT Secretary Prasad said:
"The use of a public-private partnership for the I-4 Ultimate project will help us deliver these improvements 20 years sooner than using conventional methods. This benefits Central Florida residents, commuters and visitors."