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CFX BOARD APPROVES NEW $3.2 BILLION 5-YEAR WORK PLAN

Today, the Central Florida Expressway Authority (CFX) Board voted unanimously to adopt a $3.2 billion Fiscal Year 2022-2026 Five-year Work Plan. The new Work Plan will fund capital and maintenance improvements to CFX’s expressways over the next five years.

Working towards the goal of a world-class system, the new Work Plan is a robust and forward-thinking approach that will allow CFX to continue to invest in the existing 125-mile expressway system while also working to address Central Florida’s mobility needs. This plan is anticipated to create approximately 41,600 jobs in Central Florida over the next five years.

 The new $3.2 billion Work Plan is divided into 10 Categories with the four largest expenditure Categories making up approximately 94% of the plan’s funding distribution. These include: System Expansion Projects (47%); Existing System Improvements (40%); Major Interchange Projects (3.6%); and Replacement Projects (3.2%).

 Highlights of the FY 2022-2026 Work Plan include: 

  • $1.5 billion for major expansion projects including the proposed SR 414 Expressway Extension, The SR 516 Lake-Orange Expressway, and the SR 538 Poinciana Parkway Extension
  • $1.2 billion for capacity improvements projects to eliminate congestion hot spots, including the widening of 22 miles of SR 417 and 10 miles of SR 528.
  • $117.4 million for major interchange projects including the SR 408/I-4 Interchange, the SR 408/Tampa Avenue Interchange, and the SR 528/Dallas Boulevard Interchange.
  • $63.5 million for expressway resurfacing projects.
  • $9 million for 6 sustainability projects.

 About CFX’s Five-Year Work Plan

The Five-Year Work Plan is part of CFX’s budget process and serves as an important tool for the agency to effectively manage its program of system improvements, enhancements and rehabilitation. The purpose of the work plan is to identify those projects which CFX anticipates funding during the next five years. The work plan is also used in conjunction with the financial management programs used by CFX. The work plan is updated annually and presented to CFX’s Governing Board each spring for adoption. 

 

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