SPOKANE, Wash. — The treasurer of Spokane County and the Spokane Airport Board announced an agreement on a $30 million financing package for the ongoing terminal expansion project at the Spokane airport.
The agreement allows the airport to borrow up to $30 million in two parts. That $30 million will come from the Spokane Public Investment Fund (SPIF) and will fund the Concourse C Terminal Renovation and Expansion (TREX) Project at Spokane International Airport.
“Expanding Spokane International Airport is key to growing the region’s economy,” said Michael Baumgartner, the treasurer of Spokane County. “Spokane Public Investment Fund financing will help the airport expansion project be completed quicker and at lower cost to the traveling public.”
Spokane Airport will borrow $15 million two times. The first $15 million will be borrowed on March 20 and repaid over one year. The second $15 million will be borrowed later in 2023, likely by the end of the year.
SPIF investments are distributed monthly to support local public services without raising taxes or fees on the public. SPIF earned over $82 million for local government entities since 2019.
For more information on the TREX project, click here.
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