$52M funding gap in proposed ILM expansion

WILMINGTON, NC (WWAY) — The New Hanover County Airport Authority is proposing a big expansion to ILM, but there is also big gap in money to pay for it.

ILM  may be known as a small airport with one terminal, it is only getting busier.

“Well, we’re growing,” New Hanover County Airport Authority Board Chairman Tom Wolfe said. “This year, we had record crowds of over 800,000 people.”

ILM Finance Director Bob Campbell said it is time to expand.

“There are some parts of the terminal that will be at capacity over the next couple of years,” Campbell said.

Wolfe said they are proposing an $88 million project to expand the terminal by 200,000 square feet including two new parking decks and more space for TSA security.

“That airport wasn’t built for the security system that we have to enter, go on airplanes now,” Wolfe said.

Campbell said starting the project now will help them get a head start on the growth, but they have run into a gap.

“A $52 million gap,” Campbell said.

Campbell said they can get about $33 million in federal aid and they will match another $3 million, but that does not even cover half of the price tag.

“So we are in the process of hiring a consultant to come in and tell us the best way to fill that gap,” Campbell said.

Campbell said they have looked into some of their options.

“There is a possibility always of floating a bond,” Campbell said. “We don’t know if we have the capacity to do that based on our revenue. We can also try to reach out and put in another PFC application. That’s passenger facility charge.”

Wolfe said if there is a way, they are going to find it.

“Oh, yes. We are a pretty energetic group,” Wolfe said.

The New Hanover County Airport Authority board members meet tomorrow night at 5:00. Campbell said they will vote on whether to hire the consultant. He said if approved, they will then have to negotiate the price for the consultant.