The Central Florida Expressway Authority’s Governing Board today unanimously supported transitioning control of the Poinciana Parkway from the Osceola County Expressway Authority to CFX. The transfer goes into effect December 31, 2018.
The Board’s approval of the transfer stems from the state law that created CFX in 2014 as a regional transportation operator. Senate Bill 230, Ch. 2014-171, empowered CFX to take over projects in OCX’s Master Plan and assume control of the local agency’s 7.2-mile Poinciana Parkway, a toll road that also goes by the designation State Road 538. As authorized under Ch. 2014-171, CFX will manage the Poinciana Parkway as a “non-system project,” meaning the tollway relies on its own revenues to pay for operational and maintenance expenses.
“Today’s vote by the Governing Board affirms CFX’s commitment to provide solutions to Osceola County’s transportation needs,” said Fred Hawkins Jr., who chairs CFX’s Board and an Osceola County Commissioner. “CFX had already undertaken projects in OCX’s Master Plan, including two corridor extensions currently under review, so assuming control of the Poinciana Parkway is a logical progression of CFX’s regional mandate.”
In March 2018, CFX’s Board voted to conduct Project Development and Environment studies on two of four proposed corridors originally included in OCX’s Master Plan. PD&E studies on the Poinciana Parkway Extension and Osceola Parkway Extension are expected to be completed in late 2019. Should CFX decide to move forward with building the Poinciana Parkway Extension, then CFX would refinance the Poinciana Parkway’s bonds and assume ownership of the tollway.
“We look forward to managing the Poinciana Parkway.” said Laura Kelley, executive director of CFX. “Bringing the Poinciana Parkway into the CFX fold will increase opportunities for us to help meet the region’s transportation demands, particularly in fast-growing areas like Osceola County.”