CN-550000-ASG37-A0011500.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 part of the State Infrastructure Bank created pursuant to Section 339.55, Florida Statutes, with the purpose of making loans to governmental entities to finance or refinance transportation facilities.

The loan is for a specific state capital outlay project involving improvements to State Road 82 (Immokalee Road) in Lee County, Florida. The project will widen and reconstruct 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 total loan amount is $34,955,978.00, with a 0% financing rate. The project includes road widening, adding travel lanes, a raised median, Type E curb and gutter, sidewalks, bicycle lanes, and stormwater system improvements. The loan is expected to be disbursed over multiple fiscal years, with the project anticipated to begin in April 2019 and be completed by November 2021.