Massport Board approves billion dollar capital program
Posted: 21 February 2013 | Massachusetts Port Authority | 2 comments
The Massachusetts Port Authority (Massport) approved a rolling five-year program of more than $1 billion to fund 341 projects…
The Massachusetts Port Authority (Massport) today approved a rolling five-year program of more than $1 billion to fund 341 projects as part of the Authority’s fiscal year 2013 – 2017 comprehensive financial plan of capital improvements.
“Each year, this is one of the most critical votes the Board makes because the plan is our dynamic road map for the next five years and it is where our priorities are reflected,’’ said Thomas P. Glynn, Massport CEO & Executive Director. “Each project in the plan is evaluated for its ability to improve safety and security, operational efficiencies, customer service, enhanced HOV service, as well as make sure facilities are in a state of good repair, and that we maintain our commitment to our neighbors.’’
This year’s plan is expected to sustain the equivalent of some 700 full time design and construction private sector jobs for the first three years of the five year project. The largest initiative is the construction of the Logan Airport Rental Car Center, formerly known as the ConRAC. The $310 million project will enhance customer service, ease airport roadway and terminal curbside congestion and replace rental car diesel buses with alternative fuel buses and improve air quality.
Aviation improvements include the completion of an expanded, decked safety area for runway 33L with an engineered material arresting system to safely stop an aircraft that overshoots the runway, $137 million for a checked baggage inspection system, 90 percent of which is funded by the TSA. The plan includes renovation and rehabilitation of Terminals B for $124 million and another $45 million for other terminal improvements; $32 million for Worcester Regional Airport safety improvements including instrument landing systems and taxiway improvements.
Massport is allocating $6.5 million for the Logan Airport Greenway and $34 million for a dedicated freight corridor to move trucks serving Conley Container Terminal away from a South Boston residential neighborhood.
The capital program totals $391 million in Massport funding, $193 million in Customer Facility Charges, $161 million in FAA and TSA grants, $130 million in Passenger Facility Charges, and $238 million in revenue bonds, for a total of $1.113 billion.
“The capital program is our planning guide for the next five years so Massport can meet the transportation needs of businesses and the traveling public,’’ said Glynn. “It shows how Massport is a significant economic engine for the New England region by investing in its facilities and creating needed construction jobs and permanent jobs.’’
When the Capital Program is broken down by Massport facility, Logan Airport will receive $931 million, or 84 percent of the funding; Maritime will receive $75 million, or seven percent, Worcester Regional Airport will receive nearly $36 million, or three percent and Hanscom will get $11.6 million or one percent. Authority wide projects, such as IT and infrastructure disaster resiliency, will total $58.3 million, or five percent.
Massport receives no state tax funding and is governed by a seven member Board. Six of the members are appointed to staggered seven-year terms by the Governor of Massachusetts, and the Secretary of Transportation serves as an ex officio member.
The capital program has more than 100 projects, including important ones such as development of the west concourse of Terminal E, harbor deepening and Cruiseport Boston expansion, that do not have funding available at this time.
Boston Logan, 15 minutes from the intersection of Route 128 and I-90 and five minutes from downtown Boston, serves as the gateway to the New England region and offers nonstop service to more than 100 domestic and international destinations and in 2012 handled 29.3 million passengers. Boston Logan is the Air Line Pilot Association’s Airport of the Year for 2008 because of its commitment to safety. Over the past decade, the airport spent $4.5 billion on a modernization program that includes new terminals, parking facilities, roadways and airport concessions, and has been transformed into a world-class 21st Century facility. The airport generates $7 billion in total economic impact each year.
The Massachusetts Port Authority (Massport) owns and operates Boston Logan International Airport, public terminals in the Port of Boston, Hanscom Field and Worcester Regional Airport. Massport is a financially self-sustaining public authority whose premier transportation facilities generate more than $8 billion annually, and enhance and enable economic growth and vitality in New England. No state tax dollars are used to fund operations or capital improvements at Massport facilities.