(THE BOND AMOUNT FOR THE CAUSEWAY IS $48.7 MILLION. THE TOTAL PROJECT COST, INCLUDING TOLL PLAZA, IS $66.7 MILLION. THE DIFFERENCE IS FUNDS THE COUNTY ALREADY HAS IN HAND).

FOR IMMEDIATE RELEASE

Contact:   Pete Winton, Lee County Administration
                (239) 335-2777

CAUSEWAY BONDS TO BE SOLD/SUMMERLIN-SAN CARLOS OVERPASS FUNDING APPROVED

FORT MYERS, Fla. (December 9, 2003) - The Board of Lee County Commissioners today approved (all votes were unanimous) the following items during its regular weekly meeting. They are:

Causeway Bonds - Gave the go-ahead to issue bonds for the replacement of the Sanibel Causeway bridges. The action also included a "delegating resolution" that allows the Chairman or Vice Chairman to sign the bond purchase agreement when the bonds are sold - probably in the next couple of weeks - without having to reconvene the County Commission. The cost of the project is $47.3 million.

Overpass - Approved funding in the county's construction (CIP) budget for the six-laning of Summerlin Road from San Carlos Boulevard to Gladiolus, including overpasses at San Carlos and Gladiolus. This was accomplished by shifting $18.1 million from "out-year" road projects - where funding will be restored in future years - and by using road impact fee reserves. The Summerlin/San Carlos overpass is critical to move forward because the intersection is currently failing and projected to fail after the widening (without the interchange) prior to the design year, and is much more cost effective and less disruptive to do it as part of the road widening. Also, the Traffic & Earnings Report necessary for the bonding for the Sanibel Bridge project assumed the intersection would be improved with an overpass and operating acceptably in the future. The county's disclosure counsel for the bond issue has indicated the county needs to identify the source of funding to ensure the overpass improvements move forward by Dec. 14 prior to selling the bonds in order to avoid a disclosure statement about the potential failing of the intersection and a possible time-consuming revision to the Traffic & Earnings Report.

Jacobs Mall - After a second and final public hearing approved a development agreement between the county and the owners and developers of the Gulf Coast Town Center (Mall) Development of Regional Impact that will govern the mitigation of the transportation impacts of the project. The developer will pay $10.26 million to mitigate those impacts. That money will be used to widen Ben Hill Griffin Parkway from four lanes to six lanes from Alico Road to the 244-acre project near Florida Gulf Coast University and for other road improvements in that area of the county that benefit the project.

DRGR Study - Approved the ranking of consultants to perform an update study of the county's "Density Reduction-Groundwater Resource" lands and a commercial mining study. The top-ranked firm is Greg F. Rawl PG. The county now will negotiate a contract, not to exceed $199,000, with the top-ranked firm.