Transcript 10-00175-PowerPoint Presentation-MAT FDOT

PORT OF MIAMI
TUNNEL PROJECT
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FDOT & MAT
Presentation
PROJECT MAIN PARTIES
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Public Sponsors
90% Equity Partner
Contractor
10% Equity Partner
VMS
Operator
Federal Support
PORT ACCESS: IMPORTANCE
OF THE PORT
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 The Port of Miami is the cruise capital of the world,
the 12th national cargo port based on containerized
shipments, and the top seaport in Florida based on
containerized shipments.
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$14.3 billion in imports/exports
176,000 jobs
$6.4 million in wages
$17 billion in economic output
*Figures from 2007 Local & Regional Economic Impact of the
Port of Miami Study
PORT ACCESS: ECONOMIC BENEFITS
TO THE CITY OF MIAMI
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 Port of Miami operations directly and indirectly
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supported*:
17,294 jobs in the City
400 jobs on-site during tunnel construction peak
$2.2 billion annually in total economic impact
$583 million annually in labor compensation for City
residents
$684 million annually in personal income for City
households
* Source: The Washington Economics Group, Inc.
PORT ACCESS:
TRUCK TRAFFIC WILL INCREASE
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 26,000 vehicles (Nearly
7,000 trucks & buses)
travel to/from Port
through downtown
streets
 By 2030, estimated
truck traffic will nearly
double
PORT ACCESS:EXISTING TRUCK
ROUTES THROUGH DOWNTOWN MIAMI
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 Port growth is
constrained by
current access
 Trucks currently
travel through NE
1st and 2nd Avenue,
and 5th and 6th
Streets
 Trucks traverse
congested streets
and areas of
pedestrian activity
PORT ACCESS: NEEDS & BENEFITS
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 Provide direct connection from Port to interstate
highways from I-395 via Watson Island
 Maintain Port as County’s second-leading economic
generator
 Relieve congestion from downtown streets
 Keep Port competitive
OPTION SELECTED
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TUNNEL VERTICAL ALIGNMENT
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TUNNEL BORING MACHINE
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TUNNEL BORING MACHINE
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PUBLIC PRIVATE PARTNERSHIP
AGREEMENT
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 35-year agreement between FDOT & concessionaire,
Miami Access Tunnel:
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Design-Build-Finance-Operate-Maintain
 FDOT begins availability payments once tunnel
opens, adjusted for inflation
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Estimated to be 2014
 Payment subject to reduction if tunnel not
operational during required hours
 Tunnel will be returned to FDOT in first-class
condition at end of contract
FUNDING THE POMT
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 Cash Flow:
 $100 million during construction
 $350 million upon POMT completion
 Remaining in annual “availability payments”
Covers both remaining capital and annual operations and
maintenance costs
 Maximum Availability Payment (MAP) was $32.5 million at
financial close on October 15, 2009
 Amount will be adjusted based on annual inflation

FUNDING THE POMT
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 FDOT contributing 50% of capital cost ($432.5
million)
 Local partners have matched capital costs
 FDOT funding tunnel Operations & Maintenance
from statewide maintenance funds (about $200
million over 30 years)
WATSON ISLAND
CONSTRUCTION STAGING
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Stages 1 & 2 Construction – May 2010 through September 2010
WATSON ISLAND
CONSTRUCTION STAGING
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Tunnel corridor
Shift MacArthur Bridge EB & WB traffic to right
Build MacArthur Bridge EB & WB 4th lanes
Bore EB & WB tunnels to Dodge Island
Stages 3 & 4 Construction - September 2010 through March 2014
MANAGEMENT OF TRAFFIC
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 3-lanes to be maintained in both directions on
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MacArthur Causeway during peak hours
Temporary lane closures in accordance with
approved FDOT procedures
Full-time Communications Manager
Full-time Traffic Manager
Full-time Health & Safety Manager
Emergency Response with Road Rangers
WATSON ISLAND
CONSTRUCTION STAGING
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Stage 5 Construction - Open for traffic May 2014
QUESTIONS?
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THANK-YOU!