The Florida Department of Transportation (FDOT) passed another I-4 milepost with commercial and financial close of the I-4 Ultimate project occurring on September 4, 2014. The public-private partnership (P3) concession agreement between FDOT and I-4 Mobility Partners paves the way for design, construction, financing, maintenance, and operation of the project and saves 20 years on the construction process.
FDOT Secretary Ananth Prasad said, “We are viewed as a national leader based on our success with past P3 projects. They allow us to deliver projects sooner because they include elements of financing, and we have one entity that is responsible for everything, from a design all the way through to operations and maintenance.”
Design begins later this month. The start of construction is anticipated in early 2015. Visit I4Ultimate.com to learn more about this history-making project.