ORLANDO, FL. – The Greater Orlando Aviation Authority (GOAA) moved closer to securing future funds to improve and expand Orlando International (MCO) and Orlando Executive (ORL) Airports. At today’s meeting, the GOAA Board approved significant increases to the Authority’s 2021-2027 Capital Improvement Program (CIP). At MCO, that amounts to a $554.5 million increase, bringing the total to $4.13 billion. Orlando Executive’s CIP saw a $2.3 million increase.
Enabling the ambitious slate of projects is funding available through the federal government’s Bipartisan Infrastructure Law (BIL). Included in the BIL is a five-year, $25 billion investment in the nation’s air transportation system, $20 billion of which will be administered by the Federal Aviation Administration (FAA) Office of Airports. Through Airport Infrastructure Grants (AIG), $15 billion will be available over a five year period and allocated by formula to the nation’s airports. An additional $5 billion will be earmarked to upgrade, modernize and rebuild the nation’s airport terminals on a competitive basis. Approval does not guarantee funding, but to qualify, the Authority had to comply with the FAA’s request for updates to 5-year Capital Improvement Programs.
The AIG five-year formula shows MCO will be allocated an estimated $220.3 million with ORL receiving nearly $1.5 million.
“Securing this funding will be instrumental in restarting several delayed South Terminal C projects,” said Kathleen Sharman, GOAA Chief Financial Officer. “We are optimistic that our projects will meet the competitive grant award criteria. Taking this first step to approve this CIP will enable us to secure additional funds to keep moving forward.”
At Orlando International, the CIP revisions focused on three areas: South Terminal C (STC) projects delayed due to the pandemic; Ground transportation; and North Terminal enhancements. Additional funds will be added for the following:
- STC Terminal Building – $350M
- STC Apron/Airfield expansion – $50M
- Rental car Quick Turnaround facility – $60M
- Ground Transportation Facility pedestrian bridge – $11.4M
- New North Terminal improvement projects – $83.1M
At Orlando Executive, CIP updates include:
- East Ramp rehabilitation – $1.1M
- New airfield lighting & signage – $800K
- Taxiway rehabilitation – $400K
Under this plan, BIL funding, through allocated AIG and competitive Airport Terminal Program (ATP) grants, will cover nearly $362M of the proposed MCO expenditures and GOAA will not increase Authority funds or issue any additional revenue bonds. The remainder of the funds will come from a combination of Florida Department of Transportation (FDOT) grants, Passenger Facility Charges (PFC) and Customer Facility Charges (CFC).