Sioux Falls City Council approves $5M loan for airport expansion

The city of Sioux Falls will loan the Sioux Falls Airport Authority $5 million to support its concourse expansion at the Sioux Falls Regional Airport.

The money would come from the city’s general operating reserve fund, which has grown in recent years to more than the city typically holds on hand.

The City Council voted 7-0 Tuesday in favor of the deal.

The money would be provided as a loan as long as the authority receives approval to issue airport revenue bonds to finance the terminal project and as long as the state of South Dakota also provides at least $5 million in a loan, grant or subsidy.

While the state has not committed to funding, “there does seem to be really good, open dialogue about it,” said Councilor Richard Thomason, who co-sponsored the ordinance.

The airport is planning to build at least four gates to expand the seven-gate terminal, allowing it to meet demand for air travel and remain competitive in attracting air service.

The city attorney’s office now will work with the Airport Authority on the terms of the agreement, including repayment.

Construction of the hallway, gates and restrooms could start as early as August. Depending on how much is built, an 18-to-24-month construction window is predicted.

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