The project will make MCO a true multi-modal facility and the first airport in Florida with a direct rail connection.
The agreement includes rail line easement for the rail corridor through the airport; use of premises at the planned South Airport APM Intermodal Station; and lease of the rail maintenance yard south of the City Conserv 1 facility.
The terms each last for at least 50 years.
Frank Kruppenbacher, GOAA Board chairman, commented: “This project defines us as the centre of regional transportation and will transform the way visitors and residents travel between two of Florida’s most populated and visited regions.
“No Authority funds will be used for construction of the station for All Aboard Florida. Construction funding sources will be finalised over the next couple of months.”
All Aboard Florida and GOAA intend to deliver the system by the end of 2015.
The new service will utilise 200 miles of existing Florida East Coast Railway Corridor between Miami and Cocoa, while 35 miles of new infrastructure is due to be built.
In addition to the Central Florida station at MCO, the service will also include stops in the downtown areas of Miami, Fort Lauderdale and West Palm Beach.
All Aboard Florida will construct, operate and maintain the rail corridor through the airport, including making improvements for grade crossings for roads around the airport.