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Provo Airport awarded $14.5 million state infrastructure bank loan to expand apron
Summary
The Utah Transportation Commission unanimously approved a $14.5 million State Infrastructure Bank loan to accelerate Provo Airport’s apron expansion, drawing discussion about SIB liquidity and other pending applications.
The Utah Transportation Commission voted unanimously to award Provo City a $14,500,000 State Infrastructure Bank (SIB) loan to accelerate construction of a paved apron and related apron-area improvements at Provo Airport.
The commission approved the five-year loan (interest rate 3.08 percent, per the SIB guidelines) after hearing that Provo will use the SIB funds to begin paving a surcharged apron area this summer so the airport can park more aircraft at the terminal and accommodate additional scheduled commercial service. Provo Airport representatives said the overall airport expansion has a $138,000,000 project value and that $127,300,000 of that amount is already committed; the airport plans to repay the SIB loan with a committed Mountainland Association of Governments (MAG) contribution of $16,500,000 expected in 2028.
The airport’s engineering and planning…
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