The Department of Transportation says the $950 million is the largest loan that has ever been given under the program to a public-private partnership.
“We’ve been able to move this project from the financing drawing board to breaking ground in near record time because of the Department’s early involvement,” Transportation Secretary Anthony Foxx said in a statement.
DOT officials say the Florida loan is the 13th TIFIA award issued this year. Thus far this year TIFIA has helped finance $7.4 billion in transportation projects.
Florida is lucky to have received such a large loan. Most states have put off highway and bridge infrastructure projects until there is a long-term solution to the Highway Trust Fund.