How the Center for Innovative Finance Support Office Does Business...
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About Us |
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Capacity Building |
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Outreach/Awareness |
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Research |
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Technical Assistance |
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Location |
Orlando Metropolitan Region, Florida |
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Project Borrower / Sponsor |
Central Florida Expressway Authority (CFX) |
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Program Area |
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Fiscal Year Approved |
Fiscal Year 2015 |
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Mode |
Toll Highway |
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Description |
Authorized in 2004 by the Wekiva Parkway and Protection Act (Chapter 369, Part III, F.S.), the Wekiva Parkway will complete the beltway around northwest metropolitan Orlando, Florida. The proposed 25-mile tolled expressway will connect to the existing S.R. 417 at I-4, providing an alternative to I-4 and relieving S.R. 46, US 441 and other area roads of traffic congestion resulting from increasing growth and travel between Orange, Lake, and Seminole Counties. A TIFIA loan will finance and accelerate the delivery of the CFX portion of the Wekiva Parkway in Orange County, which consists of a 10 mile segment of the overall project to be constructed in five sections (1A, 1B, 2A, 2B, and 2C) from US 441 near Apopka north to CR 435 and the Lake County-Orange County Line. The remaining 17 miles of the parkway will be constructed by the Florida Department of Transportation (FDOT) in Lake and Seminole Counties and will connect directly to the CFX sections. The CFX portion of the project will have independent utility and will begin generation of revenues prior to the completion of the full Wekiva Parkway. |
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Cost |
$587 million |
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Funding Sources |
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Project Delivery / Contract Method |
Design-bid-build |
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Private Partner |
None |
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Project Advisors / Consultants |
To the Borrower:
To USDOT TIFIA JPO:
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Lenders |
Bondholders, USDOT TIFIA |
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Duration / Status |
Construction is expected to begin in 2015 beginning with Sections 1A and 1B. Substantial completion of the CFX sections is scheduled to occur in late 2018. Construction on Sections 4A and 4B by FDOT began in February 2013 and is expected to open in 2015. |
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TIFIA Credit Assistance |
Direct Loan: $193.695 million |
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Financial Status |
TIFIA credit agreement was signed on March 25, 2015. |
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Innovations |
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Related Links / Articles |
Wekiva Parkway Project Website Central Florida Expressway Authority |
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Contacts |
Laura Kelley |
