Project Status Report: Miami Intermodal Center Agency Agency Report Date: September 2001 Assessment,

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Project Status Report Miami Intermodal
Center Agency
AgencyReport Date
September 2001
Assessment, Assessment,Contact
Mark Sullivan,
FHWA (HABF-40), x65785 Cost Status
(Ok) Schedule Status (Ok)
Subsequent to the tragic events of September 11,
2001, the entire project is in process of being
re-evaluated as to scope and timing of individual
project elements and in total. The consequences
of this re-evaluation are unknown at this time.
Additional meetings are being scheduled with the
affected parties including USDOT and FHWA. This
report is accurate as of September 10, 2001
without consideration of the effects of
subsequent events.

• Description
• Credit Support
• Other Funding Sources

The Miami Intermodal Center (MIC) project
comprises a five-year program of ground access
improvements to and within the Miami
International Airport (MIA). Major project
elements include construction of an intermodal
center for transit, commuter rail, Amtrak,
courtesy vans
and intercity bus services, a consolidated rental
car facility, an automated airport people mover
and highway improvements. The project will
facilitate substantial commercial development
around the airport.

• The TIFIA program will fund two direct loans. A
  269.076 million loan, secured by Floridas State
  Comprehensive Enhanced Transportation System
  (SCETS) fuel tax revenues, will fund right-of-way
  acquisition as well as design and construction of
  selected MIC program elements. The FHWA and
  Florida Department of Transportation (FDOT)
  executed the SCETS loan on June 9, 2000. A
  163.676 million loan, secured by rental car
  facility (RCF) fees, will fund design and
  construction of the consolidated rental car
  facility. The RCF loan had been scheduled to
  close in January 2001, but final negotiations
  regarding rental car company commitments have
  postponed the closing.
• The 433 million in TIFIA funds now comprise 32
  of the MICs 1,349 million cost. This
  proportion will decline as revised cost estimates
  for the RCF and MIC/MIA Connector are
  incorporated into the official estimate. Other
  funding sources include
• FHWA Federal-aid 46 M MIA Funds 400 M
• State Funds 285 M Expressway Funds 86 M
• Other Local Funds 4 M ROW Reimb. 0
  M
• SIB Loan 25 M Rental Income
  5 M
• The project budget includes approximately 1,285
  million of cash outlays and 64 million in
  non-cash capitalized interest.
• (continued next page)

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Project Status Report Miami Intermodal
Center
Page 2 Report Date
September 2001
Contact
Mark Sullivan, FHWA
(HABF-50), x65785 ___________________________
__________________________________________________
__________________________________________________
_____________________________
Repayment Schedule Due to Date 0.00 Paid to
Date 0.00 Variance - Remarks Neither the
SCETS nor RCF loan has yet been disbursed. The
first SCETS loan repayment will be due September
1, 2004. The first RCF loan repayment (subject
to final negotiation) will be due April 1, 2007.
Financial Status Key
Comparisons
Total costs Total estimated program costs have
held steady since approval of the TIFIA loans.
Positive and negative variances in individual
projects within the MIC program, however, are
being experienced as roadway master planning
advances, right of way acquisition proceeds,
design work is undertaken and initial
construction contracts are let. Capital
obligations through September 10, 2001 (including
actual FDOT obligations and estimated MIA
obligations of 54 million) total 185.0 million
or 13.7 of the total project cost, in line with
original expectations. Upon completion of the
schematic design phase (20-25 plans), the RCF
cost estimate has increased from approximately
164 million to approximately 230 million. This
new estimate -- influenced by factors such as
unanticipated site preparation, updated unit
prices, incorporation of features requested by
participating rental car companies and
locally-encouraged aesthetic treatments -- is
being reviewed by FDOT and MIA. This increase is
not reflected in the total program budget due to
adequate contingency reserves. TIFIA component
Upon obligating TIFIA funds in September 1999,
USDOT estimated subsidy costs of 0.996 million
for the SCETS loan and 7.807 million for the RCF
loan. At the completion of the SCETS loan in
June 2000, the final obligation amount was
adjusted upward to 1.049 million. A final
subsidy cost for the RCF loan will be calculated
when that loan closes. There have been no loan
disbursements to date. Although the SCETS
agreement authorized FDOT to draw up to 25
million in FY 2000, no draws have yet occurred.
The disbursement schedule will be addressed as
part of the overall review of scope and
timing. Other financing All non-TIFIA sources
of funding for the MIC have been incorporated
into the FDOT five-year work program and the
Miami-Dade MPO Transportation Improvement Program
(TIP).
Construction Activities, Status, and Schedule
Design and right-of-way acquisition are underway.
Negotiations with several major property owners
have resulted in agreements for extended
possessions that may influence the construction
schedule for the first phase of the MIC Core.
The extended possessions are driven primarily to
avoid double relocations by rental car companies
whose property is needed for the program and who
will ultimately be relocating to the consolidated
rental car facility. The extended possessions
will generate interim lease revenues that will be
allocated to the program. The first construction
project, for interim roadway improvements, began
in early 2001. Construction by FDOT of
individual MIC facilities and roadways is
scheduled to occur during years three through
five of the MIC program. After a review of
alternative project/program delivery systems, the
Construction Manager At Risk (CM_at_Risk) delivery
system was selected as the best approach to
accomplish schedule milestones. On May 31,
Turner Construction Company was selected as the
CM_at_Risk contractor for the MIC. However, the
selection has been protested by competing joint
venture firm PCL/Centex Rooney. Resolution of
the protest, which may result in schedule
impacts, is underway. The Miami International
Airport (MIA) is financing, designing and
building the people mover system that will
connect the MIC facilities with the airport. At
present, the schedule for the people mover system
is lagging behind other key program components
and may require future schedule adjustments.
FDOT and MIA continue to work to bring their
respective project schedules into closer
conformance.
Cost, Subsidy Rate, Substantial Completion