WACO, Texas (KXXV) — The city of Waco is considering some changes for the Waco Regional Airport in the future, including paid parking and increasing rental rates for businesses leasing space.
- The airport has been funded by local taxpayers' money from the general fund for many years, the city wants to slowly change that by increasing revenue.
- Parking is currently free at the airport.
- Proposed changes to long-term parking range from $5 to $9 a day.
- There is no timeline for when the city council will make a decision on the changes yet.
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“It's important to understand that in most commercial service airports in the U.S., parking revenues are the number one source of income for the airport,” Michael Reisman said.
That's not the case at Waco Regional Airport, where parking is currently free.
But the city is still considering making that change — one of several that the city council is considering to help the airport become more self-sustainable.
"There was a proposal or a variety of options presented to city council through the informal report process at last night's meeting that ranged from $5 a day phased in over 3 years up to $9 a day.”
Waco's Interim Director of Aviation, Michael Reisman— tells 25 News for more than 10 years; local taxpayers have been funding the airport—offsetting the difference in operating costs through the city's general fund.
But the long-term goal is to find ways for it to become cost-neutral to our neighbors.
Another change coming in the future — rent increases for tenants leasing space at the airport.
"It's not something that's going to happen overnight for everybody."
The city says right now, most places are not paying fair market-rate prices, but there won't be any changes until contracts are up.
Michael says business at the airport helps support our local economy by employing around 450 people and resulting in more than $200 million in economic impact.
“The city has a tremendous investment in the assets out here, many tens of millions of dollars," Michael said. "The city provides services for the citizens, not just the citizens, but the visitors who are coming to the community through the airport.”
Federal law states any revenue generated by the airport must go back into airport operations.
