The current estimates for the runway safety area improvements, runway extensions, taxiway changes, service road installation and relocation of the Airport’s instrument landing system localizer equipment is $41 million. This estimate does include the design, construction management, land acquisition, mitigation costs, construction and a reimbursable agreement with the FAA for the relocation of the localizer. There are no funds currently obligated for this project, and if approved, the funds would be through grants issued in Federal fiscal year 2012 and 2013. No funding commitments can be made until federal and state environmental approvals are obtained.
95% of the funding is anticipated to come from grants from the Federal Aviation Administration. The balance of funding will come from Airport revenues. No County General Fund revenues will be used. For the Airport’s share of the costs, it is anticipated that the Airport would seek a CalTrans Aeronautics loan for the match, and then pay the loan through passenger facility fees.
The impact from the five flights operated by Alaska Airlines generates $112 million in direct and in-direct economic impact and approximately 414 jobs in the community. Should the project be approved, airlines agree to serve this market and the 12 daily departures identified occur by 2015, then an additional $170 million economic impact would occur with an additional 479 jobs created in the community. In addition, to the economic impact from air service, the tenants at the Airport currently generate over $1.4 million in taxes for the County general fund, school districts and special districts per year.