Funding The New Kci Airport: Where Does The Money Come From?

The new KCI airport in Kansas City is funded by a combination of sources. The Aviation Department borrowed $1.5 billion in 2019 and 2020, with a blended interest rate of 3.88%. This means the department will make payments of $95 million a year for 35 years. The annual debt payment is paid through a combination of airport revenue, including airline rents, parking revenue and concessions. The airlines are expected to pay the costs of the terminal overhaul.

The Aviation Department borrowed $1.5 billion in 2019 and 2020

The new airport terminal is expected to cost $1.5 billion in total. So far, 90% of the airport has been paid for, with the Aviation Department having already paid $1.35 billion and $148 million left in the budget.

The original plan was to use taxpayer money to fund the project. However, this plan was amended so that the funds would be borrowed only from the city's aviation department, which is funded by airport revenues and not taxpayer dollars. The city council had to approve an ordinance with four documents governing the airport project before construction could begin. The $48 million that was part of that ordinance was needed to bridge the gap between the time the council signed off on the ordinance and the time bonds could be issued to finance the rest of the project. Ultimately, the airlines are expected to pay the costs of the terminal overhaul.

The department will make payments of $95 million a year for 35 years

The new KCI airport in Kansas City is funded by the Aviation Department, which has already paid $1.35 billion, with $148 million left in the budget. The money came from bonds – the department borrowed $1.5 billion in 2019 and 2020, with a blended interest rate of 3.88%. This means the department will make payments of $95 million a year for 35 years. The annual debt payment is paid through a combination of airport revenue, including airline rents, parking revenue, and concessions. The Aviation Department is funded by airport revenues and not taxpayer dollars. Ultimately, the airlines are expected to pay the costs of the terminal overhaul.

The money will be paid through a combination of airport revenue

The new KCI airport in Kansas City is funded by a combination of airport revenue, including airline rents, parking revenue, and concessions. The Aviation Department has already paid $1.35 billion, with $148 million left in the budget. The money came from bonds – the department borrowed $1.5 billion in 2019 and 2020, with a blended interest rate of 3.88%. This means the department will make payments of $95 million a year for 35 years.

The new airport is expected to cost $1.5 billion in total. So far, 90% of the airport has been paid for. The Aviation Department plans to make payments through a combination of airport revenue, including airline rents, parking revenue, and concessions, which are expected to total around $75 million. The remaining $20 million will likely be covered by other sources, such as the airlines that serve KCI or the city's aviation department, which is funded by airport revenues and not taxpayer dollars.

The city council has to approve an ordinance with four documents governing the airport project before construction can begin. The council is waiting for the airlines that serve KCI to come to an agreement on how to fund the construction and operations of the new terminal. The $48 million that was originally going to be borrowed from across city funds is now expected to come from the city's aviation department.

The city council must approve an ordinance before construction can begin

So far, 90% of the airport has been paid for by the Aviation Department, which has already paid $1.35 billion, with $148 million left in the budget. The money came from bonds – the department borrowed $1.5 billion in 2019 and 2020, with a blended interest rate of 3.88%. This means the department will make payments of $95 million a year for 35 years. The annual debt payment is paid through a combination of airport revenue, including airline rents, parking revenue and concessions. Ultimately, the airlines are expected to pay the costs of the terminal overhaul.

The new terminal will be larger than the previous one

The new terminal at KCI airport will be larger than the previous one, allowing for future expansion of the facility. The new terminal will have space for three additional gates, two more baggage claim devices, and two more security lanes.

The new terminal is part of a $1.5 billion project, 90% of which has already been paid for by the Aviation Department. The department borrowed $1.5 billion in 2019 and 2020, with a blended interest rate of 3.88%. This means that the department will make payments of $95 million per year for 35 years. The annual debt payment will be covered by a combination of airport revenue, including airline rents, parking revenue, and concessions.

The funding for the new terminal has been a long and difficult process, with the City Council waiting for the airlines that serve KCI to agree on how to fund the construction and operations of the new terminal. Initially, it was planned that $48 million would be borrowed from across city funds, but this was amended so that the funds would be borrowed only from the city's aviation department, which is funded by airport revenues and not taxpayer dollars. Ultimately, the airlines are expected to pay the costs of the terminal overhaul.

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