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Miami Intermodal Center (FDOT Elements)

Project Schematic
Project Type: 
Other Surface Transportation
Sponsor / Borrower: 
Florida Department of Transportation (FDOT)
Miami-Dade Aviation Department (MDAD)
Credit Agreement Status: 
Retired/Sold
TIFIA Assistance: 
$269 million
Primary Revenue Pledge: 
Motor Fuel Tax Revenues
Duration / Status: 

Roadway improvements - Construction began in June 2003 and was completed in May 2008.

Fiscal Year Closed: 
FY1999
Project Description: 

The Miami Intermodal Center (MIC) comprises a multi-year program of ground access improvements to and within Miami International Airport (MIA). Major project elements include:

  • Miami Central Station (MCS) - Intermodal center for transit (Metrorail), commuter rail (Tri-Rail), Amtrak, and intercity bus services
  • Rental Car Center (RCC) - New rental car facility consolidating rental car operations at the airport and providing space for 10,000 cars
  • MIA Mover - Automated airport people mover to connect MIA to the MCS and RCC
  • Various roadway improvements to improve airport access
Funding Sources: 

Federal:

- Federal funding (grants) - $6 million

- TIFIA loan - $270 million (capitalized interest - $46 million)

State:

- State Transportation Trust Fund (STTF) loan - $245 million

- Florida SIB Loan - $70 million

- Other state funding (grants) - $1,048 million

Local:

- MDAD - $155 million

- Miami-Dade Expressway Authority (toll revenue) - $86 million

- Dedicated and ancillary revenues (customer facility charges, rent, and lease revenue) - $117 million

Project Delivery / Contract Method: 

Construction Management at Risk

Project Participants: 
None
Project Advisors / Consultants: 

AECOM (Construction Manager) and 82 subconsultants

To USDOT TIFIA JPO:

TIFIA Legal Advisor: Nixon Peabody

TIFIA Financial Advisor: Montague DeRose

Project Lender(s): 
Bondholders, USDOT TIFIA
TIFIA Credit Assistance Detail: 

The FDOT Program Elements loan closed on June 9, 2000. The initial loan size was $269 million; to be repaid from fuel tax revenues.

Financial Status: 
The FDOT Program Elements TIFIA loan was prepaid by FDOT on July 3, 2006 in the amount of $17.1 million including interest, 24 years ahead of the originally scheduled maturity date. Of the $269 million, only $15 million was withdrawn because FDOT replaced it with a more competitive internal loan through the STTF.
Innovations: 
  • Use of the Construction Management at Risk (CM) project delivery method that provides the opportunity to begin construction prior to design completion, centralize risk and responsibility under one contract, and guarantee completion of the project at a negotiated price. The CM is compensated in the pre-construction phase by a negotiated fixed fee. After the award of Guaranteed Maximum Price (GMP) construction contracts, the CM manages a fast-track construction program and construction starts before all design is complete. The CM is required to pre-qualify all subcontractors with all trade contracts being competitively bid. Consequently, all construction work will be competitively procured.
  • A Joint Development program has been established for the MIC to capture the economic development potential in the area and enhance the functionality of the MIC by encouraging public transit use.
Project Contacts: 

MIC Public Affairs Program 
Ric Katz, Manager 
Tel. (305) 879-0559 
JSpoliansky@communikatz.com

Footnote: 
* Total cost included in TIFIA loan number 19991002B
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