How will a concessionaire be utilized for the I-595 corridor?
The concessionaire will finance, design and build the project, and operate and maintain the system under a long-term 35-year agreement with FDOT. The concessionaire will finance the project funding shortfall up front and be repaid through availability payments when the completed project opens to traffic. Entitlement to the availability payments will generally be based on the ‘availability’ of the project to vehicular traffic and the concessionaire’s conformance with the operation and maintenance criteria established in the concession agreement. FDOT will retain control of the toll revenue and toll rates.
