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Cost of Airport Expansion Going Up
Posted on December 9th, 2016
Fox13 reported last week that the cost of the airport
expansion project is going up. The Salt Lake City Department of Airports
announced on Wednesday the
cost for the terminal redevelopment is going up by $350 million. That
now brings the cost of the airport to $2.9 billion.
Why? “Utah is enjoying a very strong economy, which is resulting in severe labor constraints and a substantial increase in the cost of materials,” Airport Advisory Board Chair Igor Best-Devereux said in a statement. “Because of the checks and balances that the Department of Airports has in place, the Airport staff was able to identify and validate the cost increases early on in the process. This enabled them to take the measures necessary to move forward and seek the required budget approvals.”
Fortunately, none of the costs are coming from
tax payers' pockets. The entire project is being paid for through
surplus funds, federal grants, revenue bonds, and airline ticket/rental
car fees. The massive project will include a brand new terminal with
concourses,
new rental car facilities, parking garages and related facilities. The
project is slated for completion in 2020.
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