WMBB - Tuesday Segment on Airport Funding
The big hole in tonight's answer was the "One-third from State of Florida Aviation Trust Fund Paid by Ticket Tax" - such a fund does not exist. So far $22 Million has been granted in discretionary legislative appropriations, essentially a slush fund directed by developer lobbying and a couple of powerful House figures. (Good folks but way off the edge with this one. The $8 Million grant in 2002 was delivered very quietly, didn't even appear in the session report. If it had been $80,000 for a school crossing, the papers would be all over it.)
The project is not in the FDOT Work Program, it is entirely dependent on continuing support from the legislative delegation. The "next big thing" is called the "Strategic Intermodal System", a new round of discretionary projects in which Bay County is an "emerging airport" and Ft. Walton is not, although Ft. Walton/Okaloosa met the selection criteria and Bay County did not. The "commission" for this one includes a short-line railroad representative (wonder who THAT will be?) and Chris Corr (of St. Joe) among others.
The project depends on the willingness of the legislature to carry enough water to keep it afloat- the local funds are all short: land is not cash, the present airport probably won't net $38 Million, and the airport bonding capacity is conjectural at best. Bechtel also lobbies well in Washington, so more than one-third federal money is a possibility. The project needs to start showing some progress though - the burn rate is pretty high and $22 Million before drawing a sheet of plans is not stellar performance.
Although the airport district now issues bonds over its own seal, local officials can still endorse bonds voluntarily. They may take a pass on endorsing these bonds - the airport polls very poorly with likely voters. A factor any aspiring politician (anybody running in District 6?) should consider...
9:39:27 PM 
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