Florida Agency Fires Director Who Pushed Ill-Fated Road Project

Sigo, Shelly
October 2004
Bond Buyer;10/28/2004, Vol. 350 Issue 31999, p3
Trade Publication
The article presents information that the Tampa Hiltsborough Expressway Authority fired its executive director on Monday and now is trying to figure out how to proceed with its bond-financed, elevated road project, which is literally sinking into Florida's sandy soil. The three-lane elevated bridge is being built in the middle of the Selmon expressway, where traffic would flow one way during morning rush hour into Tampa, and then the other way in the afternoon out of Tampa. Structural credit enhancement and management assistance from the Florida Department of Transportation provides the authority with "an unusually significant layer of downside protection. As a result, the credit is likely to remain stable.


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