A third party, the Orlando-Orange County Expressway Authority, approved a separate pre-lease document Wednesday, June 26, 2013, anticipating the agency's leasing of 20 miles of right-of-way along SR 528.
FDOT owns an additional 15 miles of right-of-way along SR 528, which runs east-west and links Interstate 4 in southwest Orlando with Interstate 95 along the Florida coast.
Both leases cover a 99-year-period — 50 years plus a 49-year extension. The 50-year lease agreement between FEC and FDOt nets FDOT $250,000 per year.
The All Aboard Florida passenger rail project, announced in March 2012, would stretch about 240 miles, using 200 miles of existing FEC right-of-way from Miami and Cocoa, Fla., and 40 miles of new track to reach Orlando. Intermediate points would include Fort Lauderdale and West Palm Beach.
Future expansions would take the service to Tampa, on the west coast, and Jacksonville, near the Georgia border.
"Our focus will now turn to finalizing an agreement with the Greater Orlando Aviation Authorityso we can stay on track with the project’s timeline,” All Aboard Florida President and Chief Development Officer Mike Reininger told local media.