Wichita’s Mid-Continent Airport will see $200 million of new facilities under a facilities proposal approved last week after a nine-month hiatus.
The financing plan includes federal grants and $90 million of general obligation bonds supported by airport revenues.
The council first considered the plan last year, but put it on hold in October due to a sputtering local economy.
The efforts include a $160 million terminal and $40 million for parking and car rental facilities. Construction could begin in early 2012, with completion set for 2015.
Airport director Victor White said construction costs are low, but have bottomed out with increases expected.
The current terminal was built almost 60 years ago, and has been updated twice.
Wichita’s airport bonds are rated Aa1 by Moody’s Investors Service and AA-plus by Standard & Poor’s.
The city has $537 million of outstanding long-term GO debt and $197 million of outstanding short-term GO debt.