KCI HOMETOWN Team Shares Commitments Made to Selection Committee: Team Dedicated to Work with City to Evaluate all Financial Options
City Maintains Control, Current Financial Structure and Primary Debt Position
KANSAS CITY, Mo., Aug. 15, 2017 /PRNewswire/ -- The Burns & McDonnell KCI HOMETOWN Team today confirmed its dedication to work with the City to evaluate all financing options available to build a new single terminal at KCI. Burns & McDonnell's complete proposal package was released to the public on Monday following its interview with the Airport Selection Committee.
The Burns & McDonnell KCI HOMETOWN Team plan provides flexibility and will utilize all tools to ensure the lowest financing cost to the City.
"We will not alter the City's existing financial structures and in no way will the City's existing and long-term debt be subordinate to private financing," says Greg Hamilton, Vice President, Americo. "We are excited to work with the City and the Airlines to find a financing solution that ensures Kansas City Aviation Department (KCAD) debt is priority and meets the needs for Kansas City and the traveling public," Hamilton added.
Commitments discussed during Burns & McDonnell's interview include:
- Ensuring that the priority and seniority of the City's existing and future debt is unaffected by the private financing and a commitment to work with the City and the Airlines to develop a financing plan that provides flexibility and aligns the interests of the City and the Airlines.
- Protecting the taxpayers of Kansas City.
- Making no change to City Bond Ordinance.
- Ensuring that City debt is priority, and payment for the new terminal is secondary, which protects KCAD's ability to meet ongoing and future needs.
- Working with the City and KCAD to align with the City's desires on airport debt and repayment priorities.
- Helping the City evaluate all financing options available to select the best financing option for the City.
- Achieving 30-40 percent MBE/WBE goal for the project.
"The City has our commitment to evaluate all financing options available to guarantee maximum flexibility to the city and Aviation department in their financing options and ensure that we build a project that is right for Kansas City," said Ray Kowalik, chairman and CEO, Burns & McDonnell. "To ensure local dollars stay in Kansas City, Burns & McDonnell and Americo have committed to spending more than $10 million of their own money to help build a diverse and local workforce and to ensure minority and women-owned business expansion."
Burns & McDonnell's proposal showed a range of potential project costs for the project. Those cost estimates would require an Airline commitment of between $58 million and $85 million per year. For the terminal concept presented in Exhibit K of the proposal, costs are expected to be near $964 million with a required airlines commitment of $67 million per year.
The firm also reaffirmed its pledge, delivered in the interview, to achieve a goal of 30-40 percent participation for Minority and Woman-Owned Business Opportunities for the project.
"Projects like the New KCI come around once in a generation, this is our chance to make sure we deliver a project for the WHOLE Kansas City community," said Kowalik.
To review the complete proposal package, go to: www.KCILoveThisPlace.com.
About Burns & McDonnell
Burns & McDonnell is a Kansas City-based firm that's been committed to the people and growth of our hometown since we were founded in 1898. The 3,000 employee-owners based in Kansas City actively volunteer within the community and have donated millions of dollars to causes that support our great city from United Way to Science City. We are made up of more than 5,700 engineers, architects, construction professionals, scientists, consultants and entrepreneurs with offices across the country and throughout the world. We strive to create amazing success for our clients and amazing careers for our employee-owners. Burns & McDonnell is 100 percent employee-owned and is proud to be No. 16 on Fortune's 2017 list of 100 Best Companies to Work For. For more information, visit burnsmcd.com.
Contact: Kristi Widmar, Burns & McDonnell
816-448-7379
[email protected]
SOURCE Burns & McDonnell
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