CN-550000-ASG35-A0010600.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 Contract Number ASG35. The loan is state-funded and involves the State Infrastructure Bank created under Section 339.55, Florida Statutes.

The loan provides $25,906,001.00 to fund 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 will be used to finance project costs including dredging, environmental work, channel stabilization, construction, surveys, and water quality protection structures. The loan is to be repaid through Pledged Revenues, specifically the Strategic Intermodal System Growth Management Funds, Intrastate Construction Funds, and Seaport Transportation and Economic Development Funds. The loan term is structured with no interest accruing, and disbursements are to be made in accordance with the Grant Agreement between the Department and the Jacksonville Port Authority.