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Committee finds SFO Terminal 2–3 secure connector project fiscally feasible; environmental review to follow
Summary
Airport staff and the Budget Analyst told the committee the proposed secure connector between Terminals 2 and 3 plus an office block is fiscally feasible and will be financed with airport revenue bonds; environmental review under CEQA is the next step.
Airport staff described a proposed secure connector between Terminals 2 and 3 and a roughly 92,750-square-foot office block to house airport administrative functions and free up leasable space in the International Terminal. Kathy Weidner (San Francisco International Airport) said the project is estimated to cost about $171.7 million and would be paid from airport revenue bonds previously authorized by the Board. The project is expected to take about two-and-a-half years and create approximately 800 construction jobs.
Weidner described modest ongoing revenue gains from additional concession sales and rental opportunities tied to the new space; the Budget Analyst’s report estimated total project costs at about $185.4 million when reserves and issuance costs are included and projected annual debt service and interest over the bonds’ term. The committee concluded the project meets the city's fiscal-feasibility standard under Administrative Code Chapter 29 and recommended approving the finding; staff said environmental review under CEQA will begin if the Board concurs.
The committee moved the item forward with a positive recommendation to the full Board. Environmental documentation and detailed financing schedules will be completed in the next steps.
