FHW Gives Parkway Nod

The Federal Highway Administration last week approved the location of the $1.9 billion Wekiva Parkway, a 27-mile toll road that would complete a beltway around western metropolitan Orlando.

The FHA issued a “finding of no significant impact,” which essentially accepts the location and design concept. The approval means the long-planned road can move forward with design and construction.

The project is being funded by the Florida Department of Transportation, Florida Turnpike Enterprise and the Orlando-Orange County Expressway Authority.

Construction is expected to take a minimum of seven years.

FDOT plans to spend $678 million, which includes $394 million of federal funds. The agency has also applied for a $22 million discretionary grant from the federal government’s Transportation Investment Generating Economic Recovery, or TIGER, program.

The Turnpike Authority will pay $709 million of the project, though it is not clear if bonds will be sold because the final plan of finance has not been released by state officials.

The Expressway Authority plans to fund most, if not all, of its costs with bonds.

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Transportation industry Florida
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