Transportation
BY SHELBIE HAMILTON
Airport expansion project gets $52.4M in funding commitments
Over $52 million in funding has been secured for the expansion project that will bring a commercial passenger service terminal to McKinney National Airport. Funding measures approved at a March 18 meet- ing included a $30 million contribution from the McKinney Community Development Corporation and a $22.4 million contribution from the McKin- ney Economic Development Corporation. The speci cs The 45,000-square-foot commercial passenger service terminal and supportive infrastructure will be added to the east side of McKinney National Airport. The project is expected to cost $75.1 million. The city received $5.5 million in grant funding from the McKinney Community Development Corp. and the McKinney Economic Development Corp. in early 2024. At the March meeting, the MCDC board unanimously approved contributing
an additional $30 million to the project through sales tax revenue bonds that will serve as interim nancing until city o cials can secure a loan from the Transportation Infrastructure Finance and Innovation Act program. The MEDC board also unanimously approved the issuance and sale of $62.4 million in sales tax revenue bonds, with $22.4 million expected to be granted to the airport project and the remaining $40 million used for a land purchase, according to the presentation. Looking ahead Work on the airport expansion is set to begin in May, and is expected to be completed by July 2026, according to city documents. Commercial passenger service is expected to begin in late 2026, with announcements of airlines, routes, airfares and other details in 2026, McKinney National Airport Director Ken Carley said.
Airport expansion project funding sources 1 MCDC loan/future TIFIA loan (2025): $30M
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2 MEDC grant (2025): $22.4M 3 Federal Aviation Administration, Texas Department of Transportation, Tax Increment Reinvestment Zone funding: $14.8M
Total $74.1M
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4 MCDC grant (2024): $2.6M 5 Water and wastewater fund: $2.6M 6 MEDC grant (2024): $1.7M
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SOURCE: CITY OF MCKINNEY COMMUNITY IMPACT
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