"After eight months of negotiations, MNAA board members voted unanimously on Feb. 18 to move forward with the project. Under the terms, The Boring Company will pay the airport authority an annual $300,000 licensing fee for the use of roughly 933,000 square feet of airport property, with a 3% annual increase. Over 40 years, that totals to approximately $34 million, with two optional five-year extensions that could extend the term to 50 years, as per a report from The Tennesean."
"Airport officials estimate more than $300 million in operational revenue over the agreement's duration, though this projection is deemed conservative. "This is a significant benefit to the airport authority because we're receiving a new way for our passengers to arrive downtown at zero capital investment from us. We don't have to fund the operations and maintenance of that. TBC, The Boring Co., will do that for us," MNAA President and CEO Doug Kreulen said."
Metro Nashville Airport Authority approved a 40-year agreement with The Boring Company to build the Music City Loop connecting Nashville International Airport to downtown. The Boring Company will pay an annual $300,000 licensing fee for about 933,000 square feet of airport property, rising 3% annually, totaling roughly $34 million over 40 years with two optional five-year extensions to 50 years. The company announced the approval on its X account. The loop will charge a $5 fee per airport pickup or drop-off and is projected to generate more than $300 million in operational revenue. The Boring Company will fund operations and maintenance, requiring no airport capital investment. The project has drawn both support and criticism.
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