The Memphis-Shelby Airport Authority approved an additional $4 dollar transaction fee on all rental cars in order to fund a $48 million terminal, due for completion in 2011, writes The Memphis Online.
The 78-acre terminal will consolidate all rental car companies under one roof, and lessen the time it takes for arriving travelers to get to the rental cars. The terminal will also hold hotel shuttle buses and possibly tourist charters.
The fee is expected to generate between $4.8 million and $5.6 million in the first year, and directors hope to be able to have construction bids by the end of summer, according to The Memphis Online.
The terminal will be built on property that the airport obtained through noise abatement condemnation proceedings in the 1980s, and the old rental lots on “rental car row” will become parking for FedEx Corp.
The consolidation is expected to reduce expenses for the rental car companies and contribute to their expansion.