First Airport Financing Under the Bipartisan Infrastructure Law’s Expanded TIFIA Authorization Goes to Sacramento Airport


3 minute read | January.14.2025

The U.S. Department of Transportation’s Build America Bureau has provided a $36.1 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for Sacramento International Airport’s Pedestrian Walkway project.

This financing marks the first TIFIA loan made by the Department of Transportation’s Build America Bureau for an airport project under new authorization included in the Bipartisan Infrastructure Law.

Orrick advised Sacramento County in negotiating this novel TIFIA loan.

THE PARTIES

The Sacramento County Department of Airports plans, develops, operates and maintains Sacramento International Airport and three other airports. Sacramento International Airport offers more than 155 daily nonstop flights to 36 destinations on 12 domestic and international carriers.

Part of the U.S. Transportation Department, the Build America Bureau accelerates investment in transportation infrastructure. It lends federal funds to qualified public and private borrowers, clears roadblocks for creditworthy projects, provides technical assistance and grants to build local/regional capacity and implement best practices and innovative solutions in project planning, funding/financing, delivery and operations.

THE IMPACT

The loan will provide critical financing for the new Pedestrian Walkway at the airport, offering significant cost savings and supporting passenger mobility.

The project includes four moving sidewalks, four escalators, ADA-compliant walkways, two passenger elevators, one service elevator, stairs, and an electrical room, the Department of Transportation said.

“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.

Assistant Director of Airports Chris Wimsatt said the TIFIA loan represents a significant milestone.

“By leveraging the program’s low-interest rates and flexible repayment terms, we will save over $15 million while advancing critical infrastructure improvements.”

“Orrick congratulates Sacramento County on closing this innovative financing for the benefit of its passengers,” said Jenna Magan, Co-Chair of Orrick’s Public Finance Practice.  “Devin, Brandon and I are grateful that the County entrusted our team to help it navigate the novel questions and issues that arose while the Build America Bureau and the County worked collaboratively to make this unprecedented loan a reality.”

THE TEAM 

Orrick’s Jenna Magan led the team that advised Sacramento County. The team included Devin Brennan, Brandon Dias and Melissa Warr.

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