DOT Announces $950 Million TIFIA Loan for Florida’s I-4 Project
WASHINGTON — Transportation Secretary Anthony Foxx announced on Sept. 9 that the Interstate 4 widening project in Orlando, Fla., will receive a DOT loan for $950 million.
The financing for the project through the Transportation Infrastructure Finance and Innovation Act is the largest loan that DOT has given to a public-private partnership project, Foxx said at an event at the Treasury Department.
Florida officials have been seeking assistance for the widening and rebuilding of 21 miles of I-4. This “I-4 Ultimate” project is an effort to ease congestion on a popular stretch of road in that part of the Sunshine State. The I-4 corridor runs 73 miles between Tampa and Daytona Beach, serving several of the region’s key highways, such as Florida’s Turnpike and Interstate 95.
“DOT continues to forge ahead to create the opportunity for public-private partnerships,” Foxx said.
“Without a loan like this, Orlando’s I-4 would have continued to age, requiring even more costly fixes in the years ahead, creating additional traffic delays without any hope of congestion relief,” Acting Federal Highway Administrator Gregory Nadeau added. “The travel demands in this area of Florida continue to grow, which is why the ‘I-4 Ultimate’ is the right solution at the right time.”
