Money eyed for state’s transportation funding ‘gap’

State promised to move I-4, Poinciana Parkway Osceola road projects up -- now it's gotta pay the premium for them.

  • As announced in late September, through the Moving Florida Forward Infrastructure Initiative, I-4 from Osceola Parkway to Champion Gate, and a separate project from Champions Gate to U.S, 27, are part of a $4 billion state spending plan coming from an allocation from the General Revenue Surplus. FDOT FILE PHOTOS
    As announced in late September, through the Moving Florida Forward Infrastructure Initiative, I-4 from Osceola Parkway to Champion Gate, and a separate project from Champions Gate to U.S, 27, are part of a $4 billion state spending plan coming from an allocation from the General Revenue Surplus. FDOT FILE PHOTOS

    News Service of Florida -- A $7 billion program to advance a series of transportation projects has hit a funding gap as it enters its second year and will require more money than initially planned from the state’s general-revenue fund.

    Gov. Ron DeSantis’ proposed $114.4 billion budget for next fiscal year includes $632 million that would come from general revenue rather than through financing or loans for the Moving Florida Forward program.

    Department of Transportation Secretary Jared Perdue has also requested $513 million, expected to be generated through interest earnings on department investments, to “close out” the funding for the Moving Florida Forward program.

    The additional money is needed for the Poinciana Parkway extension project, a four-mile extension to reach County Road 532 and eventually north of Interstate 4 at the State Road 429 interchange. It comes with a $1.31 billion price tag.

    “We were able to close some of the ($3 billion) gap through additional proposed bonding and loans and financing,” Perdue told members of the House Infrastructure & Tourism Appropriations Subcommittee last week. “We closed about a $1.7 billion gap. But there is still a need to finish out this plan so that we can move forward … the Poinciana (Parkway) Connector.”

    Widening and improving Interstate 4’s short but often congestion portion in northwest Osceola County was also part of Moving Florida Forward, which the Legislature this spring approved $4 billion for and included it in the department’s $14.5 billion work plan, with additional $3 billion anticipated mostly to come through loans and financing.

    “These projects, they are major, they're complex, the most complex infrastructure projects that we've done. So, it's important that we were strategic in how we include those into our work program,” Perdue said. “You know, they have to be scheduled at the appropriate time in a region that can handle the workload at that moment in time.”

    DeSantis announced the Moving Florida Forward program in January, with 18 projects already drawing accelerated time lines. Six have 2024 start times, including the I-4 project, widening part of Interstate 75 in Sarasota County and revamping the Golden Glades interchange at Interstate 95 in Miami. Three projects are slated to begin in 2025, including widening part of Interstate 75 in Sumter and Marion counties and widening part of Interstate 275 in Pinellas County.

    Lawmakers will consider DeSantis’ budget proposal as they negotiate a final spending plan during the legislative session that will start Jan. 9. The new budget will take effect July 1.