PORT OF MIAMI TUNNEL PROJECT 1 FDOT MAT
- Slides: 19
PORT OF MIAMI TUNNEL PROJECT 1 FDOT & MAT Presentation
PROJECT MAIN PARTIES 2 Public Sponsors 90% Equity Partner Contractor 10% Equity Partner VMS Operator Federal Support
PORT ACCESS: IMPORTANCE OF THE PORT 3 The Port of Miami is the cruise capital of the world, the 12 th national cargo port based on containerized shipments, and the top seaport in Florida based on containerized shipments. $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 4 Port of Miami operations directly and indirectly 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 5 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 6 Port growth is constrained by current access Trucks currently travel through NE 1 st and 2 nd Avenue, and 5 th and 6 th Streets Trucks traverse congested streets and areas of pedestrian activity
PORT ACCESS: NEEDS &BENEFITS 7 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 8
TUNNEL VERTICAL ALIGNMENT 9
TUNNEL BORING MACHINE 10
TUNNEL BORING MACHINE 11
PUBLIC PRIVATE PARTNERSHIP AGREEMENT 12 35 -year agreement between FDOT & concessionaire, Miami Access Tunnel: Design-Build-Finance-Operate-Maintain FDOT begins availability payments once tunnel opens, adjusted for inflation 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 13 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 14 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 15 Stages 1 & 2 Construction – May 2010 through September 2010
WATSON ISLAND CONSTRUCTION STAGING 16 Tunnel corridor Shift Mac. Arthur Bridge EB & WB traffic to right Build Mac. Arthur Bridge EB & WB 4 th lanes Bore EB & WB tunnels to Dodge Island Stages 3 & 4 Construction - September 2010 through March 2014
MANAGEMENT OF TRAFFIC 17 3 -lanes to be maintained in both directions on Mac. Arthur 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 18 Stage 5 Construction - Open for traffic May 2014
QUESTIONS? 19 THANK-YOU!
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