The Wichita City Council voted today to restart the process and move forward with building a new terminal at Mid-Continent Airport.
The council originally voted in 2004 to build the $200 million project — $160 million for a terminal and $40 million for parking and rent-a-car facilities. But it was put on hold in October because of the troubled economy.
Today, Airport Director Victor White told the council – which also acts as the Airport Authority — that now is the perfect time to go forward because construction costs have bottomed out and are projected to start rising again.
The project is forecast to be paid for through fees levied on airlines and airport users, combined with parking and concession income. However, $90 million will be raised through general obligation bonds, which would be backed by city tax funds if airport revenue falls short.
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