Columbia voters approved Proposition 1 in Tuesday's primary election. Prop 1 would increase taxes from 4 percent to 5 percent at hotels and motels, and the money would be used to make improvements at the Columbia Regional Airport, including building a new terminal.
The Columbia Missourianreports that Mayor Brian Treece said the tax increase would be retired once it raises $10 million, which is projected to take 3 to 5 years. Once the city raises $10 million, it would apply for grants from the Federal Aviation Administration to finance the project, which would cost $38 million total.
Even if the city raises that $10 million, funding isn't guaranteed, though. However, Steven Sapp, a spokesman for the city government, told the Columbia Missourian that Columbia has a good relationship with the FAA, and that they’ve already approved the layout and master plans for the new terminal.
As to where the rest of the money would come from, Greg Steinhoff, chairman of the political action committee called Foundation for Columbia's Future, said that the city may impose a fee for parking at the airport, which is currently free. He also said the city hasn't ruled out state funding, and may use $1.5 million from the city's airport transportation funds or private-public financing.