Airport moves ahead with terminal expansion plan; FY26 budget includes design, grants and preliminary GMP placeholder

Airport management presented the St. Pete‑Clearwater International Airport operating and capital budget for FY26, including a proposed terminal expansion and supporting grants and revenue strategies.

The airport’s FY26 operating budget (excluding CIP and reserves) is roughly $45 million and projects revenues of about $50 million based on user fees and rents; operating expenses increase modestly and capital outlay falls relative to recent-year peaks as some larger projects move into later phases. Airport staff proposed one new full‑time electromechanical position to reduce contract costs and recommended nonrecurring capital purchases for explosive‑detection systems (a federal compliance item), a tractor/mower fleet expansion and a mini utility vehicle for facilities. County staff noted these decision packages were recommended by the county administrator.

The larger story is the airport’s proposed terminal expansion: staff and the design/construction team presented a six‑year CIP totaling about $273.2 million, driven in large part by a terminal expansion decision package that increased the phase‑1 estimate to roughly $201.3 million and the full two‑phase program to about $370 million. James Lewis, financial analyst, said much of the increase is driven by the design consultant’s preliminary estimates and that about $93 million of the total is currently identified as “to be determined” pending the guaranteed‑maximum‑price (GMP) from the construction manager at risk (CMAR). The GMP is expected next year; staff said they will return with identified funding sources before bringing any GMP to the board.

Airport staff said the expansion would add roughly 1 million annual passenger capacity in phase 1 (from about 2.5 million today toward 3.5 million) and that federal BIL (Bipartisan Infrastructure Law), FAA entitlement grants, FDOT (state) grants and passenger‑facility charges (PFCs) are primary funding sources. The airport has secured multiple grants to date and will submit a PFC application as the design and GMP progress. Staff emphasized grant funding in FY26 CIP plans and said total anticipated grant funding across the six‑year plan is about $94 million (much of it anticipated future grants).

Commissioners asked about the step from earlier master‑plan estimates (~$110 million) to the higher current estimates; airport staff said master‑plan numbers were conceptual and that the design firm’s more detailed work, market cost changes and comparisons with other recent airport expansions justified the revised estimate. Staff also noted the airport’s operational reserves and revenue performance provide flexibility and that the airport expects to fund the expansion without county general‑fund debt.