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YVRA bids come in under estimate, freeing millions for terminal expansion
Summary
Yampa Valley Regional Airport officials said competitive bidding returned savings of more than $4 million on a terminal expansion, leaving over $7 million in contingencies and improving the airport’s reserve position as revenue‑bond and grant work continues.
Yampa Valley Regional Airport Director Tinneal Gerber told the Yampa Valley Airport Commission that competitive bids for the terminal expansion produced cost reductions of more than $4 million while preserving the project’s full scope.
Gerber said the design phase is nearly complete and permit documents have been submitted; she expects a building permit within about 30 days and construction to begin in late April or early May. The airport received 132 bids from 372 subcontractors after distributing 57 bid packages.
The favorable results reduced the airport’s reserve contribution from $33 million to $29 million and left more than $7 million in project contingencies, including roughly $5.5 million in owner-controlled contingency funds, Gerber said. The bid savings also allowed the team to add alternates including demolition of Hangar 1, kitchen equipment, gate seating and a common-use gate system for four new gates.
Gerber reported the airport has secured approximately $3 million in Economic Development Administration funding for the Aviation Business Park project, bringing that project’s funding to about $6 million, and said the airport is awaiting a decision on an Airport Terminal Program grant that would further offset costs. Preliminary Official Statements have been reviewed and an updated Standard & Poor’s credit evaluation is underway as part of revenue-bond financing work.
Gerber said procurement for a CDOT-funded snow removal equipment grant has been authorized and that several local firms (BTK Surveys, Central Electric, Giovanni and Native) are expected to receive contract awards pending Board of County Commissioners approval. A ceremonial groundbreaking is planned for late May or early June.
The director also proposed creating a dedicated Accounting Supervisor position to oversee growing financial responsibilities, including management of more than 150 contracts, grant compliance and capital project accounting. She said recruitment for an operations replacement is underway after Operations, Safety and Security Superintendent KC Hume accepted another position and will depart April 17.
The commission did not take formal action on the expansion at the meeting; Gerber’s presentation outlined project status, financing steps and scheduling.
