Airport Authorities have begun terminal renovation and expansion work on the Lincoln Airport in Nebraska, Ohio. The aim of these projects is to change the perception of flying from Lincoln which will effectively increase the traffic in the airport. The officials voted unanimously to approve a guaranteed maximum construction price and to authorize the issuance of up to US$56 million in bonds to pay for the project. The airport announced plans last year to modernize and upgrade the nearly 50-year-old terminal. One of the project’s major aims is to consolidate its two security checkpoints into one.
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The project includes a physical expansion of the north side of the terminal, where all the airline gates will be consolidated, adding about 35,000 square feet to the existing 58,000-square-foot building. Airline ticket counters would be consolidated on the first floor. Cost projections have grown since last fall when the airport estimated the project would be about US$44 million as the airport Executive Director David Haring explained that a lot of the cost increase due to material cost increases. Other facets, however, are intended to provide travelers with conveniences common in other airports, including moving food and beverage services to the secure side of the passenger area.
The total cost of the project is estimated at about US$54.8 million. That includes design and engineering costs, equipment the airport has to buy, such as new seating and new jet bridges, plus a contingency cushion to account for unforeseen costs. To pay for the project, the Airport Authority plans to use its property tax authority for the first time since 1986. Nick Cusick, chairman of the Airport Authority, said the board expects to use half its available levy or 1.75 cents per US$100 of assessed property valuation. At that rate, the owner of a home valued at US$200,000 would pay an extra US$35 a year.