PORT OF MIAMI TUNNEL PROJECT 1 FDOT& MAT Presentation FDOT & MAT Presentation

P ROJECT M AIN P ARTIES 2 90% Equity Partner 10% Equity Partner Contractor VMS Operator Public Sponsors Federal Support

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.  $14.3 billion in imports/exports  176,000 jobs  $6.4 million in wages  $17 billion in economic output  *Figures from 2007 Local & Regional Economic Impact of the Port of Miami Study PORT ACCESS: IMPORTANCE OF THE PORT 3

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. PORT ACCESS: ECONOMIC BENEFITS TO THE CITY OF MIAMI 4

26,000 vehicles (Nearly 7,000 trucks & buses) travel to/from Port through downtown streets By 2030, estimated truck traffic will nearly double P ORT A CCESS : T RUCK TRAFFIC WILL INCREASE 5

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 PORT ACCESS:EXISTING TRUCK ROUTES THROUGH DOWNTOWN MIAMI 6

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 P ORT A CCESS : N EEDS & B ENEFITS 7

O PTION S ELECTED 8

T UNNEL V ERTICAL A LIGNMENT 9

T UNNEL B ORING M ACHINE 10

T UNNEL B ORING M ACHINE 11

35-year agreement between FDOT & concessionaire, Miami Access Tunnel:  Design-Build-Finance-Operate-Maintain FDOT begins availability payments once tunnel opens, adjusted for inflation  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 P UBLIC P RIVATE P ARTNERSHIP A GREEMENT 12

Cash Flow:  $100 million during construction  $350 million upon POMT completion  Remaining in annual “availability payments”  Covers both remaining capital and annual operations and maintenance costs  Maximum Availability Payment (MAP) was $32.5 million at financial close on October 15, 2009  Amount will be adjusted based on annual inflation F UNDING THE POMT 13

FDOT contributing 50% of capital cost ($432.5 million) FDOT contributing 50% of capital cost ($432.5 million) Local partners have matched capital costs Local partners have matched capital costs FDOT funding tunnel Operations & Maintenance from statewide maintenance funds (about $200 million over 30 years) FDOT funding tunnel Operations & Maintenance from statewide maintenance funds (about $200 million over 30 years) F UNDING THE POMT 14

WATSON ISLAND CONSTRUCTION STAGING 15 Stages 1 & 2 Construction – May 2010 through September 2010

WATSON ISLAND CONSTRUCTION STAGING 16 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 Tunnel corridor

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 M ANAGEMENT OF T RAFFIC 17

WATSON ISLAND CONSTRUCTION STAGING 18 Stage 5 Construction - Open for traffic May 2014

QUESTIONS? 19 THANK-YOU!