The Dallas/Fort Worth Airport board approved a $884.6 million budget Thursday that includes several parking rate increases.
The budget, for the fiscal year that starts on Oct. 1, is $90.2 million, or 11 percent, higher than the current budget. The airport expects to generate an additional $12.6 million in parking revenue, for a total of $155 million.
Daily rates will rise $1 or $2 for most parking at the airport, starting Sept. 1. The only rates not increasing are for customers who spend between eight minutes and two hours at the airport, typically dropping off or picking someone up.
The budget still needs approval by the Fort Worth and Dallas city councils.
DFW expects to see a record 67.9 million passengers in its next fiscal year and estimates that revenue generated from parking, concessions and commercial development will grow almost 7 percent.
In May, the airport handled more than 5.6 million passengers, up 2.3 percent over the same month last year. International passengers were up 5 percent. The airport’s cargo operations increased 12.3 percent, with domestic cargo operations up 26.9 percent.
“This is a sign of health in the market and it’s particularly good for our airline partners,” said John Ackerman, the airport’s executive vice president of global strategy and development.
DFW also said Thursday that it is one of two U.S. airports designated as “e-airports” by streamlining its cargo documentation. The airport replaced 30 different paper forms with electronic documents that airlines and cargo companies can use in transporting international air freight.
The board also approved agreements for a multisports complex that is being developed by longtime NBA player Jermaine O’Neal. His firm, Drive Nation Sports, plans to build an outdoor football and track field, a practice field and indoor volleyball and basketball facilities on 16.2 acres south of the airport’s rental car facility.
The facility will have a 40-year lease and the airport board approved reimbursing Drive Nation up to $850,000 for grading, tree clearing and sewer work needed at the site before construction can begin on the sports facility.