CN-550000-ASG35-A0010100.pdf

This document is a State Infrastructure Bank (SIB) Loan Agreement between the State of Florida Department of Transportation and the State of Florida Department of Transportation, District II. The agreement is dated August 1, 2019, with a Catalog of State Financial Assistance (CSFA) number of 55.020 and a Contract Number of ASG35. The loan is being provided under Section 339.55 of Florida Statutes, which allows the Department to make loans to governmental units and private entities for transportation-related projects.

The loan amount is $25,906,001.00, to be used for funding a project to widen and deepen the Jacksonville harbor ship channel under Contract B, Option A of the United States Army Corps of Engineers' Jacksonville Harbor Deepening project. The loan has a 0% financing rate and no interest will accrue on the principal amount. The project involves dredging the federal navigation channel from its current authorized depth of 40 feet to 47 feet, approximately near Buck Island, and includes environmental, design, and construction work for channel deepening, stabilization, widening, and various related activities. The loan will be repaid through pledged revenues, specifically the Strategic Intermodal System Growth Management Funds, Intrastate Construction Funds, and Seaport Transportation and Economic Development Funds allocated to the project.