DES MOINES, Iowa —
Polk County voters have approved a $350 million bond referendum to fund a Des Moines International Airport terminal expansion.
The measure passed with 79.96% of the vote Tuesday night, according to the Polk County Auditor's Office.
In September, the Polk County Board of Supervisors unanimously decided to place a referendum to support the funding of a new airport terminal on the ballot.
The language on the ballot reads, "Shall the County of Polk, State of Iowa, issue its general obligation bonds or capital loan notes in an amount not exceeding the amount of $350,000,000, for the purpose of the undertaking of any project jointly or in cooperation with any other governmental body, including funds loaned to the Des Moines Airport Authority for the new terminal facility and apron projects which include purchase, acquisition, construction, reconstruction, equipping, improvement or enlargement of the Des Moines International Airport, owned and operated by the Des Moines Airport Authority?"
Now that the referendum has passed, Polk County is authorized to sell bonds up to $350 million. Bond proceeds will then be loaned to the airport authority to help fund the new terminal.
The airport authority said it would save approximately $70 million in interest costs over the life of the loan.
The hope is that the new terminal will improve ticketing, security and baggage operations, as well as expand passenger capacity by 50%.
"This enhances our ability to continue to court airlines, ask for non-stop flights," said Kevin Foley, executive director of the airport. "Try to increase the number of city pairs that we have. Potentially bring in additional airlines."
More airlines would give travelers flexibility when going in and out of the state, with faster trips and more flight options.
The expansion will also allow the airport "to remain an economic engine for the region", according to the airport authority.
" ... By increasing the capacity of our airport, it would only stand a reason that it would have an even bigger impact," said Des Moines Airport Authority Chair Jake Christensen in early October.
The new terminal project has already broken ground and is expected to be completed by 2026. The project is expected to cost a total of $445 million.
Notably, the new terminal is simply an expansion — the old terminal will not be torn down.