The City of Orlando and the owner and developer of Lake Nona ("Lake Nona") entered into a developer's agreement on August 6, 2007 (later amended on July 26, 2011), which provided for the private planning, design, and construction of several key segments of the Southeast Orlando road network, including  the "Southeast Orlando Interchange Project" (the intersection of SR 417 and Lake Nona Blvd.). The agreement also provided for joint maintenance obligations between the City and Lake Nona over various aspects of the new infrastructure. Additionally, the agreement required Lake Nona to plan, design, construct, and then dedicate a significant community park to the City of Orlando.

Under the agreement, the City contributed up to $14 million towards these public improvements, with the City's contribution funded through a formula based on the incremental increase in ad valorem tax revenues stemming from economic growth in the Lake Nona area. 

Since the agreement went into effect, Lake Nona has completed the road infrastructure it was committed to plan, design, and construct for the City. The attached amended and restated developer's agreement modifies the funding formula to ensure that the City's funding contribution (now capped at $13.5 million) is made to Lake Nona within a reasonable and fair timeframe, while also modifying Lake Nona's park obligation to provide for 2 community parks, one at Laureate Park and one at the East Airfield.