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Letter of Understanding With Florida Department of Transportation and Pasco County for County Line Road Widening Project Located East of Mariner Boulevard to West of Suncoast Parkway a/k/a State Road 589
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BRIEF OVERVIEW
The Florida Department of Transportation (FDOT) is currently in the design phase for widening County Line Road (FPID: 257298-7) from two lanes to four lanes between Hernando and Pasco Counties from east of Mariner Boulevard to west of the Suncoast Parkway (SR589). As FDOT, Hernando County and Pasco County continue to collaborate on this project, there are several elements that require coordination and assurances from both FDOT and the counties. The purpose of the proposed Letter of Understanding is to confirm the understanding between FDOT and the counties concerning roadway improvements to be made to County Line Road.
FDOT has estimated right-of-way costs to be $20,000,000. Each county will provide $5,000,000 to FDOT through a locally funded agreement on or before July 1, 2028. FDOT will provide matching resources in the amount of $10,000,000 subject to legislative appropriation.
FDOT has estimated construction costs to be approximately $65,000,000. Construction will be funded in the manner listed below:
a. Each COUNTY will provide the FDOT $5,000,000 through a locally funded agreement on or before July 1, 2030. FDOT will provide matching resources in the amount of $10,000,000, subject to legislative appropriation.
b. FDOT proposes to secure a State Infrastructure Bank loan for the remaining construction funding, subject to legislative appropriation. Each county will be responsible for one half of the loan repayment funds, the term of which will be determined prior to the advertising of FDOT's construction contract.
FINANCIAL IMPACT
There is no current Financial Impact for this Letter of Understanding. FDOT will provide a locally funded agreement on or before July 1, 2028, for right-of-way acquisition. A locally funded...
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