Gov. Rick Scott and members of the Florida Cabinet on Tuesday approved $150 million in bond proceeds, which will finance projects at Florida ports through the Seaport Investment Program.
The Florida Department of Transportation has programmed $150 million in projects to receive bond proceeds for fiscal year 2014, which will be issued by the Division of Bond Finance.
The Jacksonville Port Authority will receive $27.5 million in funding, including $14.8 million for Blount Island Terminal improvements. This project includes the development and redevelopment of terminal facilities, wharf rehabilitation and paving, tenant building improvements, rail improvements, and drainage upgrades and repairs.
"This investment clearly sends the message once again: Florida's leaders understand the value of building port infrastructure today, and the returns that will come in the form of jobs and economic opportunity," said JaxPort CEO Brian Taylor.