Firm proposes privately funding new Kansas City terminal
KANSAS CITY (AP) — A local engineering firm has proposed to privately build and finance a new single terminal at Kansas City International Airport in order to garner voter approval and finish the airport project.
Mayor Sly James tells the Kansas City Star the city has been trying for five years to create an airport improvement plan that voters support, but city taxpayers think they'd be the ones financing it.
James says private financing would remove any question of taxpayer risk.
Engineering firm Burns & McDonnell has asked city officials to be the lead firm for the design and construction work.
The project is estimated to cost about $1 billion. The firm says it plans to put money into the project itself, attract other investors and find private lenders to complete the financing.