Panama City Bay County Airport receives USD26 million FAA funding

(CAPA) The Panama City–Bay County International Airport and Industrial District (Airport Authority) made three critical announcements following a special meeting on issues related to the relocation of the airport to a site in western Bay Florida. The site is currently owned by The St Joe Company. The Airport Authority announced it had:

“The Airport Authority made important progress on three fronts today: Finance, construction, and environmental protection,” said Airport Authority Chairman Joe Tannehill. “On the financial side, accepting the first USD26 million in Federal Aviation Administration funds solidifies our financial position and allows us to make very specific plans for the first phase of a new Panama City – Bay County International Airport.

“Awarding the site preparation contract allows us to begin working side-by-side with Phoenix Construction in planning the work, and that gives the project even more momentum. And obtaining the letter of credit for mitigation work shows we are meeting our commitment to preserve the environment.

“We continue to make progress towards groundbreaking. We are going to work tirelessly to make this airport a major success for this entire region.”

Airport Authority accepts FAA Funds

The USD26 million in FAA funds will be used to meet the following Phase I construction costs:

“We have put together a prudent and responsible financial plan for the relocation of the airport,” said Tannehill. “We understand very well the obligation we have to this community, the state and federal government. We will continue to manage this process very closely and conservatively.”

The Florida Department of Transportation (FDOT) has committed USD119 million in grants to the project since the relocation effort began. The Federal Aviation Administration (FAA) has committed a minimum of USD72 million in federal funding for the project. The Airport Authority will also use its annual federal airport entitlement funds, totalling approximately USD7 million, to help pay for relocation. Funds from the sale of the existing airport also will be used for relocation.

The Airport Authority has the ability to use its bonding authority to help finance the project, as well.

Airport Authority awards site preparation Contract

The Airport Authority awarded a USD112.5 million contract to Phoenix Construction of Lynn Haven, Florida, for site preparation at the new regional airport. Site preparation work approved by the Airport Authority includes:

“We have gone through a deliberate process to get to this point,” said Tannehill. “Our goal has been to ensure that we get the best work for the best price, and we believe the decision we’ve made is in the best interests of the airport, Bay County and the region.”

All construction work at the new airport site will be overseen by KBR, Inc, the project management, construction management firm for the work, and by airport staff. The FAA will provide additional oversight and dozens of local, state and federal regulatory bodies will have specific oversight responsibilities.

Airport Authority agrees to obtain a USD6 million letter of credit for mitigation

By agreeing to obtain the USD6 million letter of credit, the Airport Authority meets specific conditions of the Florida Department of Environmental Protection Wetlands Resource Permit and the US Corps of Engineer’s Section 404 Permit that must be met before construction on the new airport can begin.

“We are committed to completing the new airport while providing unprecedented and perpetual protection for tens of thousands of acres of wetlands and shoreline that are such an important part of this region’s natural heritage,” said Tannehill. “The 10,000 acres of mitigation lands are only part of the 41,000 acres that will be preserved when this airport is built.”