CN-550000-ASG37-A0010200.pdf

This document is a State-Funded State Infrastructure Bank (SIB) Loan Agreement between the State of Florida Department of Transportation and the State of Florida Department of Transportation, District I. The loan is established under Section 339.55, Florida Statutes, which creates a state-funded infrastructure bank to provide loans for transportation infrastructure projects.

The loan provides $34,955,978.00 for a specific transportation infrastructure project involving the widening and reconstruction of State Road 82 (Immokalee Road) in Lee County, Florida. The project spans 2.949 miles, from east of Shawnee Road to just east of Alabama Road, and will transform the existing two-lane undivided rural roadway into a six-lane divided high-speed urban highway. The project includes three 12-foot wide travel lanes in each direction, a raised 30-foot wide grassed median, Type E curb and gutter, five-foot wide concrete sidewalks, a 10-foot wide asphalt shared-use bicycle path, and stormwater system improvements. The loan has a 0% interest rate and is expected to be disbursed across multiple fiscal years, with the project construction anticipated to begin in April 2019 and be completed by November 2021.