DES MOINES, Iowa — Nearly a year after Des Moines Airport Authority’s board adopted a $500 million plan to expand the airport’s terminal, officials now say funding problems may delay the project for years.
The Des Moines Register reports that a consulting firm told the board earlier this week that construction on the terminal may not start until 2026 because of federal delays on funding airport upgrades. The board had planned to start construction on the 14-gate terminal in 2022.
About $300 million in funding was identified last year for the project, coming from cash on hand, passenger and airline fees, authority-issued bonds and grant money. But that left a funding hole of about $200 million.
Since then, officials say, rising construction costs have pushed that deficit up by another $25 million.
Information from: The Des Moines Register, http://www.desmoinesregister.com