From left, Colin Bettis, County Debt Officer; Phil Serna, County Supervisor; and Chris Wimsatt, Assistant Director of Airports sign loan documents Jan. 7 in Sacramento.

SACRAMENTO REGION, CA (MPG) - The Build America Bureau has officially executed a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan with Sacramento International Airport (SMF), marking the first time funding for an airport project has been secured under the program. The loan will provide critical financing for the new pedestrian walkway, offering significant cost savings and supporting long-term infrastructure improvements.

“We are grateful to our elected officials for assisting us in securing this loan on multiple fronts,” said Cindy Nichol, Sacramento County’s Director of Airports. 

Rep. Ami Bera (D-CA, District 6) and Rep. Doris Matsui (D-CA, District 7) supported the pursuit of this loan. Rep. John Garamendi (D- CA, District 8) championed the Transportation Infrastructure Finance and Innovation Act’s expansion to airport projects. The Sacramento County Board of Supervisors was instrumental in the effort to achieve this financing.

The Transportation Infrastructure Finance and Innovation Act is a federal program offering low-interest loans to large-scale infrastructure projects historically focused on surface transportation. Under the Bipartisan Infrastructure Law, signed by President Biden in 2021, Transportation Infrastructure Finance and Innovation Act eligibility was expanded to include airport projects.

The Build America Bureau, as part of the U.S. Department of Transportation, offers expertise and guidance to access federal funding for qualified infrastructure projects.

“Being the first airport to close a TIFIA loan offers an incredible opportunity to improve infrastructure while keeping costs low for our airport and community,” said Nichol. “The combination of our rural qualification and TIFIA’s flexible terms made pursuing this financing a clear choice.”

Sacramento International Airport will benefit from the program’s flexible terms, including low fixed interest rates, deferred repayments, and up to a 35-year repayment period. The $36.1 million Transportation Infrastructure Finance and Innovation Act loan is projected to save SMF more than $15 million compared to traditional financing methods. 

“The Pedestrian Walkway is part of the $1.3-billion SMForward capital campaign to modernize and enhance infrastructure,” said Chris Wimsatt, Assistant Director of Airports for Sacramento County. “Ensuring SMF’s ability to meet the needs of the traveling public today and in the future. The TIFIA program offers an innovative financing solution that allows us to modernize our facilities while keeping costs low.”

Following the loan’s execution, Sacramento International Airport intends to pursue additional Transportation Infrastructure Finance and Innovation Act financing for future projects.