Seattle Tacoma International Airport in the US will resume the construction of a new rental car facility (RCF) by selling $317m in revenue bonds to generate finance for the facility.
The construction of the rental car facility was suspended in December 2008 due to the worldwide economic downturn.
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The RCF will be built on a 23-acre site at a cost of $419m and is expected to be complete by 2012.
Once in place, the RCF will accommodate approximately ten full-service rental car companies with 5,400 vehicles, with additional parking at the main terminal garage.
The RCF is expected to generate approximately $2m in tax revenues for SeaTac city.
The airport’s RCF project includes a bus maintenance facility, off-site road improvements and main terminal improvements.
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