CN-550000-ASG37-A0010300.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 project involving the widening and reconstruction of State Road 82 (Immokalee Road) in Lee County, Florida. The project will convert an existing two-lane undivided rural roadway to a six-lane divided high-speed urban highway, spanning 2.949 miles from east of Shawnee Road to just east of Alabama Road. The loan has a 0% interest rate and is expected to be disbursed over multiple fiscal years (FY 2019-2025), with the project anticipated to begin construction in April 2019 and be completed by November 2021. The loan will be repaid using District Dedicated Revenue and Statewide Inter/Intrastate Highway Funds allocated for the project.