Final Development Agreement for Kansas City airport P3 to be signed this quarter
The Airport Committee of Kansas City Council has heard that the terms-and-lease sheet for the Kansas City International Airport (KCI) Terminal Replacement Project will be signed in the next few weeks.
The Council signed a Memorandum of Understanding to develop the project with a consortium led by Edgemoor in February 2018. However, the project has been unable to progress since then as the airlines that use the airport have not reached an agreement regarding cost allocation.
Airline representatives are currently negotiating how to split the US$20 million in annual cost of the baggage handling system in the new airport terminal.
As well as the airlines' terms-and-lease sheet, the signing of a final development agreement between the Edgemoor team and the City Council is pending the approval of the project's environmental assessment. Despite this, the developers are aiming to break ground in the first quarter of this year. The new terminal is scheduled to open in 2023.
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