DOT Approves $341 Million Loan For Port of Miami Tunnel
October 19, 2009
The U.S. Department of Transportation has approved a $341 million loan to build a tunnel at the Port of Miami in order to provide cargo trucks and tourist buses better access to the port
The Port of Miami says port trucks clog downtown streets. Photo courtesy of Port of Miami Tunnel Project
. U.S. Transportation Secretary Ray LaHood announced the loan last week.
"This tunnel will create a vital transportation link that will improve safety and reduce traffic congestion in the Miami area," LaHood said. "It will also save money for millions of drivers because they will be spending less time on congested roads."
The tunnel, which will extend 3.6 miles with two lanes in each direction, is expected to remove thousands of commercial trucks and cruise line buses from local streets, the DOT said. The tunnel will connect the port to the widened MacArthur Causeway and to Interstate 395.
"Transportation infrastructure is the foundation for commercial opportunity and a thriving economy," said Victor Mendez, administrator of the Federal Highway Administration. "This project is a great example of how these advances will improve everyday life for motorists and pedestrians in Miami."
The Miami Access Tunnel, a group of private companies, will receive the $341 million loan under the Department's Transportation Infrastructure Finance and Innovation Act loan program to build and operate the tunnel in partnership with the Florida Department of Transportation. The loan will go towards the total project cost of more than $1 billion.
More info: www.portofmiamitunnel.com