TRAFFIC MANAGEMENT: Florida DOT seeks investors for I-4 toll lanes project

The Florida Department of Transportation began the process Monday of reaching out to private companies to bridge the gap in funding needed to begin installing express lanes along I-4 in Orlando. Officials could be seeking as much as $900 million from outside sources, according to the Orlando Sentinel.

The project was authorized under the new surface transportation bill, which lifted the existing seven-year ban on adding toll lanes to Orlando’s main artery. Under the existing plan, crews would add the tolls and rebuild along 20 miles of highway from Kirkman Road in west Orange County to SR 434 in Seminole County.

The entire endeavor carries a projected price tag of around $2 billion; at present, the state has $857 million, or 43 percent, set aside for the project.    

FDOT helps to commence construction sometime in 2014, contingent on having the full funding required. Any money acquired from private sources would be repaid through tolls.