KC airport developer faces setback over community funding plan

The developer behind the overhaul of Kansas City International Airport can’t use $14 million of future revenue from the planned facility to fund initiatives for disadvantaged communities throughout the city, the Federal Aviation Administration has ruled.

As part of a memorandum of understanding signed with the city in February, Edgemoor Infrastructure and Real Estate said it would use future airport revenues to finance $28.2 million of contributions to benefit low-income workers and minority-owned firms.

But the FAA only allows revenues to be used for such projects if they have a clear financial benefit to the project.

Now, Edgemoor must find another source of funds to meet the obligation, the city said.

Edgemoor and the city are expected to sign a final development agreement in November for the single-terminal project, which is expected to cost $1.4 billion. The new terminal is projected to debut in October 2022.

Read more: Kansas City Star


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