The Airport Terminal Improvement Project is intended to remedy some of the existing critical problems identified in the Airport Terminal Master Plan 2008-2011, including working conditions in the baggage make-up area and TSA baggage screening area, as well as problems with congested passenger queuing, screening, baggage, fish boxes, waiting areas and passenger flow. CBS accepted a TSA design grant in the amount of $158,569.25 to design specific improvements to the TSA Baggage Screening Area. Other areas impacted by these design changes are ineligible for the TSA design funding. The Assembly approved moving forward to the 65% Schematic Design Milestone for the preferred concept plan that was presented in the Assembly work-session August 8, 2017. Passenger Facility Charges (PFC) were applied for and approved by ADOT and FAA. Collection of the PFCs began May 1, 2018. The total anticipated revenue collection over the 20-year period of collection is $6,840,000.00, which will finance the $4,025,000 revenue bond along with its fees and debt service.
The estimated cost for the project as identified is approximately $15 Million. The current funding plan outlines the following components:
- Passenger Facility Charge Revenue $4,025,000 Bond Secured
- TSA OTA Grant $158,569 Secured
- TSA Funding $3,397,500 Unsecured
- Eligible AIP Grant Request $10,283,954 Unsecured