Council approves Airport Trust financing for new parking structure over transit concerns

The council approved a resolution authorizing the Oklahoma City Airport Trust to incur indebtedness not to exceed $90,000,000 for a proposed parking structure at the airport, using a mix of $15,000,000 in trust cash and roughly $75,000,000 in fixed‑rate, 30‑year bonds supported by parking revenues. Angela Pierce, the city’s chief financial officer, told the council the bonds are “supported by parking revenues” and that the borrowing is structured so the city proper bears no direct cost.

Councilman Cooper (Ward 2) and another member registered opposition ahead of the vote, saying they would vote no and explaining their concerns that added parking investment could discourage transit solutions and induce new peripheral development. Cooper said he ‘‘cannot imagine supporting any bit of this’’ if it increases car dependency. The motion passed 7–2; the mayor noted the vote met the supermajority thresholds required to incur indebtedness and to waive competitive bidding.