This week, the US House of Representatives passed the $1.2 trillion Infrastructure Investments and Jobs Act bill package. Very preliminary estimates show that the formulaic components of the bill could provide the Sacramento County Department of Airports (SCDA) as much as $14 million per year for five years.
Additionally, there is anticipated to be $5 billion for airport terminal programs that will be awarded on a discretionary basis over five years. SCDA staff is working to identify eligible projects that would meet the timeframe for infrastructure funds being made available.
Once signed into law by President Biden, this once-in-a-generation investment will help to create quality jobs for Californians, support the modernization of key state infrastructure, improve our transportation systems and help fund the expansion of zero-emission vehicle infrastructure.
The Infrastructure Investment and Jobs Act will provide $20 billion in crucial funding that airports can use to upgrade aging infrastructure and build needed capacity to serve recovering passenger levels. The bill also enhances low-interest financing options for airports through the Transportation and Infrastructure Finance and Innovation Act (TIFIA).
TIFIA provides credit assistance for qualified projects of regional and national significance. Many large-scale, surface transportation projects - highway, transit, railroad, intermodal freight, and port access - are eligible for assistance. Eligible applicants include state and local governments, transit agencies, railroad companies, special authorities, special districts, and private entities. The bill also provides $5 billion to FAA for modification of existing air traffic control tower and towers.
“SCDA is thrilled with the passage of the Infrastructure Investment and Jobs Act,” said Cindy Nichol, Director of Airports for Sacramento County. “As SCDA looks to adapt to the future of air travel, the financial tools provided by the infrastructure bill will be important components of our efforts to put the people at the center of every trip, every experience, every day.
“SCDA would like to thank Congressman John Garamendi for his support of TIFIA for airports, as well as the members of the greater Sacramento delegation who supported this legislation,” said Nichol.