Northwest Regional Airport Authority Finance Committee Agenda April 2026
SP+ emerges as top contender for TVC parking
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Description
SP+ has proposed a five‑year contract to manage parking at Cherry Capital Airport with projected Year 1 gross revenue of $5.45 million, total expenses of $944,180, and a $70,000 management fee. The proposal features Metropolis computer vision PARCs technology, digital signage investment, and defined shuttle and staffing plans, earning a top preliminary score and a follow‑up interview.
Contract Details
Contract Amount
$5,453,851 annual gross revenue; $70,000 Year 1 management fee; $944,180 Year 1 total expenses
Vendor
SP+
Agency
Traverse City Airport Commission, MI
Contract Type
OTHER
Document Date
April 23, 2026
Contract Term
5-year proposed term (Years 1–5 fees listed)
Renewal Info
Proposal provides five years of management fee escalation but does not describe renewal options beyond the initial term.
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