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.
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.