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