FDOT Receives SOQs for I-4 Ultimate Project

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The Florida Department of Transportation (FDOT) announced on April 19, 2013 that it accepted Statements of Qualifications (SOQs) from seven proposers in response to a Request for Qualifications for the I-4 Ultimate Project.  The list of proposer teams may be found at the I-4 Ultimate Project website.

The project involves the reconstruction of over 21 miles of I-4 in Orange and Seminole Counties, including 19 major interchanges, 56 new bridges and 71 bridge replacements, and the addition of two managed toll lanes in each direction.  The estimated cost of the project is approximately $2.1 billion. 
 
The I-4 is often considered the backbone of surface transportation in Central Florida.  It provides a crucial link between Tampa on the west coast and Daytona Beach on the east coast, as well as serving the Orlando Metro area, one of the world's most popular travel destinations.  The I-4 Ultimate Project seeks to alleviate congestion by adding managed lanes and improving access to and from the interstate. 
 
The project is being procured as a public-private partnership, through an anticipated 40-year design, build, finance, operate and maintain (DBFOM) concession agreement.   The Concessionaire will receive availability payments throughout the operating period, and FDOT assumes the traffic revenue risk.  This is only the fifth highway P3 in the United States to adopt an availability payment structure.
 
Next month, FDOT is expected to short-list at least three and as many four proposers, who will have the opportunity to submit their proposals in early 2014.   The successful proposer is anticipated to be selected in the spring of 2014.

Published In: Business Organization Updates, Government Contracting Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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