Summary
On October 14, 2024, a Special Joint Session of the Leelanau County Board of Commissioners, Grand Traverse County Board of Commissioners, and the Northwest Regional Airport Authority (NRAA) convened at the NRAA Executive Offices to consider the Cherry Capital Airport Terminal Expansion Project. After a presentation and site visit, all three bodies approved resolutions supporting the project and associated bond financing.
Infrastructure Projects
Kevin Klein (CEO, Cherry Capital Airport), Sean Wohl (PFM Financial Advisor), and Attorney Patrick McGow (Miller Canfield) presented the Terminal Expansion Project, which includes five new gates, a connector building, apron expansion, enlarged security checkpoint, new departure lounge, new concessions, additional passenger amenities, and passenger boarding bridges. Commissioners and guests toured the proposed site from 3:27–3:49 p.m.
The NRAA approved the project via Resolution 2024-85 (Roll Call Vote: 8-0, 1 absent) and approved a bonding request, Resolution 2024-86, to issue bonds and request Grand Traverse County pledge its full faith and credit (8-0, 1 absent).
Leelanau County adopted Resolution #2024-018, recommending approval of bond issuance by the NRAA for the project, motioned by Allgaier, seconded by O’Rourke (Roll Call: Allgaier, Lautner, O’Rourke, Ross, Wessell all YES; 5-0, 1 absent). The resolution specifies bonds up to $60,000,000, plus capitalized interest and issuance costs, for a total not to exceed $71,000,000, funded by Airport revenues, AIP Entitlement and Discretionary Grants, BIL-AIG and BIL-ATP Grants, State of Michigan Grants, and NRAA funds.
Grand Traverse County approved its own resolution (63-2024), motioned by Darryl Nelson, seconded by Penny Morris, to approve bond issuance and pledge full faith and credit (Roll Call: 5 YES, 1 NO (Andrews), 3 absent).
Public Comments
No public comments were made during the meeting.
Other Business
Each body separately approved its agenda and public comment rules without changes: Leelanau County (Motion by O’Rourke, seconded by Allgaier/Lautner, 5-0, 1 absent); Grand Traverse County (Motion by Jewett, seconded by Flynn); NRAA (Motion by DeYoung, seconded by Nelson). Welcome statements were given by Leelanau Chair Ty Wessell, Grand Traverse Chair Rob Hentschel, and NRAA Chair Steve Plamondon. Closing comments thanked attendees for their support.
Financial Summary
The Terminal Expansion Project is expected to be funded through AIP Entitlement and Discretionary Grants, BIL-AIG and BIL-ATP Grants, State of Michigan Grants, and NRAA funds, supplemented by bonds. Bonds will total up to $60,000,000, with a total principal amount not to exceed $71,000,000 after capitalized interest and issuance costs, to be repaid from Airport revenues. Grand Traverse County will pledge its full faith and credit to support the bonds.
Action Items
- Leelanau County Board of Commissioners to formally adopt Resolution #2024-018 approving bond issuance for the Terminal Expansion Project.
- Grand Traverse County to proceed with Resolution 63-2024 approving bond issuance and pledging full faith and credit.
- NRAA to move forward with Resolutions 2024-85 and 2024-86 to implement the Terminal Expansion Project and associated bonding.