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90% Equity Partner
10% Equity Partner
P ROJECT M AIN P ARTIES
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Public Sponsors
Contractor
VMS
Operator
Federal Support

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 The Port of Miami is the cruise capital of the world, the 12th national cargo port based on containerized shipments, and the top seaport in Florida based on containerized shipments.
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$14.3 billion in imports/exports
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176,000 jobs
$6.4 million in wages
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$17 billion in economic output
*Figures from 2007 Local & Regional Economic Impact of the
Port of Miami Study

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Port of Miami operations directly and indirectly supported*:
17,294 jobs in the City
400 jobs on-site during tunnel construction peak
$2.2 billion annually in total economic impact
$583 million annually in labor compensation for City residents
$684 million annually in personal income for City households
* Source: The Washington Economics Group, Inc.

ORT
CCESS
RUCK TRAFFIC WILL INCREASE
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26,000 vehicles (Nearly
7,000 trucks & buses) travel to/from Port through downtown streets
By 2030, estimated truck traffic will nearly double

PORT ACCESS:EXISTING TRUCK
ROUTES THROUGH DOWNTOWN MIAMI
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Port growth is constrained by current access
Trucks currently travel through NE
1st and 2nd Avenue, and 5th and 6th
Streets
Trucks traverse congested streets and areas of pedestrian activity

P ORT A CCESS : N EEDS & B ENEFITS
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Provide direct connection from Port to interstate highways from I-395 via Watson Island
Maintain Port as County’s second-leading economic generator
Relieve congestion from downtown streets
Keep Port competitive

O PTION S ELECTED
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T UNNEL V ERTICAL A LIGNMENT
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T UNNEL B ORING M ACHINE
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T UNNEL B ORING M ACHINE
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P UBLIC P RIVATE P ARTNERSHIP
A GREEMENT
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35-year agreement between FDOT & concessionaire,
Miami Access Tunnel:
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Design-Build-Finance-Operate-Maintain
FDOT begins availability payments once tunnel opens, adjusted for inflation
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Estimated to be 2014
Payment subject to reduction if tunnel not operational during required hours
Tunnel will be returned to FDOT in first-class condition at end of contract

F UNDING THE POMT
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 Cash Flow:

$100 million during construction
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$350 million upon POMT completion
Remaining in annual “availability payments”

Covers both remaining capital and annual operations and maintenance costs
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Maximum Availability Payment (MAP) was $32.5 million at financial close on October 15, 2009
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Amount will be adjusted based on annual inflation

F UNDING THE POMT
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FDOT contributing 50% of capital cost ($432.5 million)
Local partners have matched capital costs
FDOT funding tunnel Operations & Maintenance from statewide maintenance funds (about $200 million over 30 years)

WATSON ISLAND
CONSTRUCTION STAGING
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Stages 1 & 2 Construction – May 2010 through September 2010

WATSON ISLAND
CONSTRUCTION STAGING
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Tunnel corridor
Shift MacArthur Bridge EB & WB traffic to right
Build MacArthur Bridge EB & WB 4 th lanes
Bore EB & WB tunnels to Dodge Island
Stages 3 & 4 Construction September 2010 through March 2014

M ANAGEMENT OF T RAFFIC
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3-lanes to be maintained in both directions on
MacArthur Causeway during peak hours
Temporary lane closures in accordance with approved FDOT procedures
Full-time Communications Manager
Full-time Traffic Manager
Full-time Health & Safety Manager
Emergency Response with Road Rangers

WATSON ISLAND
CONSTRUCTION STAGING
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Stage 5 Construction Open for traffic May 2014

QUESTIONS?
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