TRAVERSE CITY — Cherry Capital Airport is ready for take-off for more than $70 million in public financing for a new terminal addition planned to begin next spring.

The Northwest Regional Airport Authority board this week approved an ordinance to issue and sell up to $71 million in airport revenue bonds that will underpin the estimated $120 million terminal addition. The project will add more than 100,000 square feet of passenger holding area and connector space at TVC, and four new airline gates at the facility with a fifth gate planned for late 2028 or ‘29. Construction on the project is expected to begin next spring.

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