News Article | 7/24/2008

Money approved for airport project

The joint-powers Inland Valley Development Agency, which oversees funding for San Bernardino International Airport, on Wednesday approved the transfer of $19 million to complete the ongoing airport terminal renovation project.

Funds will be transferred from the agency’s debt service fund to its capital projects fund, and will go toward improvements including parking and security additions.

The agency and the San Bernardino International Airport Authority also approved a resolution to seek a $14 million non-secured loan from CMB Infrastructure Investment Group for phase three of previously approved projects related to the terminal renovation, including road improvements and technical systems and equipment.