Houston airport terminal financing vote delayed again
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A Houston City Council vote Wednesday on initial financing for a $2.55 billion terminal renovation project at George Bush Intercontinental Airport was once again stalled by the city controller’s office.
An advisory from Mayor John Whitmire’s office late last week indicated the city was finally ready to move the project forward with the placement of an ordinance on the city council agenda.
Bloomberg News
However, City Controller Chris Hollins, who took office in January, did not certify the item, which called for $150 million in financing for the project, according to his spokesman. Hollins’ predecessor, Chris Brown, also
In late November, then-Mayor Sylvester Turner and United Airlines officials launched the Terminal B project, which includes the expansion of 40 gates to accommodate larger aircraft, a new baggage handling system, two major concession hubs, and other improvements. Turner sparred with Brown over his refusal to provide necessary certification for the initial financing. Both men were term-limited from running in last year’s election.
Whitmire, who also took office in January, said his administration consulted United, financial advisors, and the business community to ensure the proposal was “a good business decision” for the city.
“Houston needs first-class facilities as a global city that welcomes millions of travelers to (the airport) annually,” he said in a March 1 statement. “It is important for the airline and the millions of passengers traveling in and out of (the airport) every year. We will get this done the right way,”
Houston Finance Director Melissa Dubowski told the city council Wednesday the airport has sufficient capacity to raise the $150 million through the issuance of commercial paper. The airport’s share of the project’s funding is around $650 million.
United, the airport’s biggest carrier, would finance $1.9 billion of the terminal project with special facility revenue bonds.
