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Key West airport ConRAC design moves forward; county outlines bond-based funding plan
Summary
Commissioners approved staff to proceed with full ConRAC schematic design and task order to McFarland Johnson (about $3.94M) after airport staff presented a revised $54M overall project estimate and a funding plan relying on airport bonds and customer facility charges (CFCs).
The board voted to proceed with full design work on the proposed consolidated rental-car (ConRAC) facility at Key West International Airport and approved a task order for McFarland Johnson to advance schematic design, design development and construction documents.
Airport director Richard Strickland summarized the scope and cost update: “Your total construction cost of 40,000,000 with escalation and soft cost, you're at 54,000,000 and our original project cost target was 55,000,000,” he said. Staff and retained advisors from Frasca/Fraskin presented a draft funding plan that relies primarily on airport revenue bonds (estimated roughly $42 million) with customer facility charge (CFC) pledge and an estimated $13 million of CFC pay‑as‑you‑go funds. Frasca noted annual debt-service estimates and that no Monroe County tax dollars would be pledged for repayment.
Commissioners approved the Phase 4 task order (approximately $3.94 million) to allow design completion necessary to finalize procurement strategy, bonding plans and rental‑car agreements; staff said the CFC revenue stream and rental-car contract terms will inform the final bond-sizing and timing. The motion passed without recorded opposition.
