| Name |
Miami Intermodal Center |
| Location |
Miami, Florida |
| Mode |
Intermodal |
| Description |
Construction of an intermodal
center, including:
Consolidated rental
car facility
Automated people
mover
Road and highway
improvements
MIC Core - links
to transit systems
Right-of-Way acquisition
and environmental remediation
|
| Sponsor |
Florida Department of Transportation
Miami-Dade Aviation Department
|
| Cost |
$1.349 billion |
| Type
of Finance |
$269 million TIFIA direct loan
secured by State fuel
taxes
$164 million TIFIA
direct loan secured
by rental car
fees
Other significant
funding sources
include:
- Florida
DOT SIB
loan
- TEA-21 Federal
Highway
funds
- CMAQ
- Miami-Dade
Expressway
Authority
Bonds
- Miami-Dade
Aviation
Department
Capital
Improvement
Program
Funds
|
| Revenue
Sources |
Rental car fees
State fuel tax revenues
|
| Project Delivery
/ Contract Method |
CM@Risk
and Design/Bid/Build |
| Private Investor
Partner |
|
| Project Advisors |
|
| Lenders |
TIFIA program |
| Physical
Status |
Right-of-Way acquisition complete.
Consolidated rental car facility under construction.
Roadway improvements to be let April 2004.
Facility design in progress.
Expected completion – all elements: June 2008
|
| Financial
Status |
Closed |
| Innovations |
|
| Related
Links / Articles |
MIC
Homepage
TIFIA
Project Fact Sheet
MIC Coverage in The Investment
Dealer's Digest
MIC_finance_idd |
| Contacts |
Kouroche Mohandes
MIC Program Manager
Florida DOT
Tel. (305) 870-7888
kouroche@bellsouth.net
Miami Intermodal Center
(MIC)
Nick Serianni, Consultant
to Florida DOT
Tel. (850) 224-7777
nserianni@aol.com
|
| Last Review/Update |
Florida DOT, March 2004 |
