Press Room - Article

Fiscal concerns delay bids for construction at airport

Taking into account the state of the economy, the Orange County Board of Supervisors has postponed an expected approval that would allow big lenders to submit bids to finance construction at John Wayne Airport.

Board members said the list of qualified lenders might require amendments because of all that has happened since its creation a few years ago. The list includes large companies like Goldman Sachs, De La Rosa & Co., and the recently troubled Lehman Brothers.

Chairman John Moorlach wanted to ensure that no qualified lenders were left out of the competition.

John Wayne's recent boost to about 10 million passengers has prompted officials' desire to build more parking and another terminal, which they hope to finance through a bond issue this spring.

JWA spokeswoman Jenny Wedge said she does not think the setback will prevent the bond issue from going out on schedule. An updated list should go before supervisors at their Oct. 7 meeting.