TagAirport Development Fund(14)

The Port of Seattle Commission adopted Resolution No. 3771 in March 2020 to authorize the acquisition of property easements and access rights around Seattle-Tacoma International Airport as part of the 2019 Flight Corridor Safety Program. The program aims to remove trees and other obstructions that interfere with aircraft landing and takeoff corridors, in compliance with FAA requirements and state law. The Port is directed to first pursue voluntary negotiations with affected property owners, but is authorized to use eminent domain condemnation proceedings if those negotiations fail.

This Port of Seattle document examines the financial implications of transferring airport property to the Economic Development Division (EDD). It explains that if the transferred property currently generates revenue, losing that income would likely raise the cost per passenger (CPE) for airlines, since those revenues normally offset airline fees. However, if the property was originally purchased using FAA noise grants, a portion of the sale proceeds could be reinvested as grant money, potentially reducing costs and partially offsetting the CPE increase.