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Florida Central Railroad Track Rehabilitation Local Matching Funds

Florida Central Railroad Track Rehabilitation Local Matching Funds. Board of County Commissioners August 28, 2012. Presentation Outline. Background Agreement Terms Requested Action. Presentation Outline. Background Agreement Terms Requested Action. Background.

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Florida Central Railroad Track Rehabilitation Local Matching Funds

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  1. Florida Central Railroad Track Rehabilitation Local Matching Funds Board of County Commissioners August 28, 2012

  2. Presentation Outline • Background • Agreement Terms • Requested Action

  3. Presentation Outline • Background • Agreement Terms • Requested Action

  4. Background • $18.4 million Improvement Project • Downtown Orlando – Plymouth • Continuous Weld Track Upgrades • Track Stabilization • Railroad Tie Replacement • Railroad Crossing Improvements • Dora Canal Bridge Replacement • Upgrades Class of Freight (I to III) • Allows for Future Passenger Rail Service

  5. Background

  6. Background FDOT has committed $13.8 million (75%) to fund facility improvements 25% ($4.6 million) Local Match Required FCEN had committed $1.2 million $3.4 million funding gap

  7. Background Lake County/Municipalities – 55% ($1.87M) of funding gap Lake County Eustis Mt. Dora Tavares Umatilla $1.53 million - remaining funding gap Orange County Apopka Orlando Ocoee Winter Garden

  8. Background October 2010 – BCC directed staff to work with MPO’s to develop Memorandum of Understanding (MOU) March 2011 – BCC directed staff to negotiate a funding agreement, not to exceed $650K Subsequently, Federal Railroad Administration (FRA) authorized additional grant ($2.2 million), which reduces County’s share

  9. Presentation Outline • Background • Agreement Terms • Requested Action

  10. Agreement Terms • FCEN will perform work and invoice partners • Orange County will pay 1.85% of costs • County costs not to exceed $340K • If FCEN sells or leases to public partner, will reimburse County (pro-rated)

  11. Presentation Outline • Background • Agreement Terms • Requested Action

  12. Requested Action • Approval of Agreement for Local Funding of Railroad Track Rehabilitation (Orange County) between Orange County, Florida and Florida Central Railroad Company, Inc. Districts 1, 2, 3, 5, and 6.

  13. Florida Central Railroad Track Rehabilitation Local Matching Funds Board of County Commissioners August 28, 2012

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