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Council hears airport financing picture: $575M estimate, $340M in voter‑approved bonds
Summary
The airport advisory report estimated about $575 million in hard and soft costs through 2030, said the November bond vote authorized up to $340 million in revenue bonds for non‑federal/state costs, and noted the FAA is expected to cover most airfield expenses.
Evan, representing the airport advisory board, told the council the overall hard and soft cost estimate for the airport program is “about $575,000,000 through the year 2030,” and that county voters last November authorized issuance of up to $340,000,000 in revenue bonds to fund airport improvements not covered by federal or state agencies. "In general, this means that most of the bond proceeds will be spent on the terminal while the FAA is expected to cover about 90% of the airfield's costs," Evan said.
Council members asked how bond proceeds and FAA participation split across terminal and airfield scopes and requested additional, confidential financial details from applicants and proposers where appropriate. No formal financing action occurred at the work session; staff said the county will begin bond preparations in the coming months and the city will continue coordination on land‑use and outreach issues tied to construction timing.
