Sacramento Airport Secures $36.1 Million TIFIA Loan for Infrastructure Upgrade
Deal News | Jan 15, 2025 | Orrick
The Sacramento International Airport has secured a $36.1 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, marking a significant milestone as it is the first such loan under the Bipartisan Infrastructure Law’s expanded authorization applicable to airport projects. Counsel for the airport, Orrick, congratulated Sacramento County on closing this financing that will fund the construction of a new Pedestrian Walkway featuring moving sidewalks, escalators, elevators, and ADA-compliant pathways. This strategic facility improvement is expected to enhance passenger mobility and provide cost savings of over $15 million due to favorable loan terms, a move anticipated to bolster airport operations and infrastructure development.
Sectors
- Aviation Infrastructure
- Public Finance
- Legal Advisory
Geography
- United States – The event involves the U.S. Department of Transportation's Build America Bureau facilitating a transformative loan for infrastructure development within the United States.
- California – Sacramento International Airport, the primary subject of the article, is located in Sacramento County, California.
Industry
- Aviation Infrastructure – The article discusses a financing deal specifically for an airport infrastructure project, highlighting the role of transportation development in aviation.
- Public Finance – The involvement of federal funding and recommended legal advisory indicates the public finance sector's involvement through the TIFIA loan program under the Department of Transportation.
- Legal Advisory – Orrick's advisory role in helping Sacramento County secure the TIFIA loan underscores the legal sector's importance in negotiating public infrastructure deals.
Financials
- $36.1 million – The loan amount provided through the TIFIA program for the Sacramento International Airport project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sacramento International Airport | Recipient | Company | The airport receiving the $36.1 million TIFIA loan for its Pedestrian Walkway project. |
| Orrick | Legal Advisor | Company | Provided legal counsel to Sacramento County in the negotiation of the TIFIA loan. |
| Build America Bureau | Lending Agency | Government | Part of the U.S. Department of Transportation which provided the TIFIA loan for the project. |
| U.S. Department of Transportation | Sponsor | Government | Parent entity responsible for the Build America Bureau that facilitated the infrastructure loan. |