Denver International Airport CEO Phil Washington made the case Thursday for a $1.3 billion “completion phase” project to get the Jeppesen Terminal ready for 100 million passengers a year.

“We feel like this is the best time to finish what we’ve started at the terminal,” Washington said.

Thursday’s news conference, which also included Michael Sheehan, senior vice president of special projects at the airport, and Chief Financial Officer Sylvester Lavender, came on the heels of the City Council’s business committee approving $1.1 billion for the project Wednesday.

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The committee approved four contract additions in a 6-1 vote. The proposals will now be sent to the full City Council for two final votes in the coming weeks.

Washington said the total cost of phase three would be around $1.3 billion. The additional $200 million comes from direct costs such as quality insurance, inspection, permits, waste disposal and fees paid directly by the airport.

The “completion phase,” or phase three, comes on top of the $770 million in terminal improvements with phase one – which were completed last month – and phase two, which began construction in July.

“One of the major questions we’ve had internally, and in finance, is can we still do this project while maintaining what the current infrastructure program and capital maintenance program was set for, while satisfying our investors,” said Lavender. “We say yes, we can do that.”

Lavender said it’s important to remember that the money for these capital improvement projects is not coming from taxpayers.

“We’re funded primarily through airline revenue, concession revenues, grants from TSA and the FAA and bonds,” Lavender said.

The “completion phase” work will include creating a new security checkpoint on the northeast side of Level 6; building more security lanes, bringing the total to 42; and upgrading check-in areas for all airlines – phase one created 80 new check-in stations for Southwest, United and Frontier on Level 6.

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“That would increase our passenger throughput per hour by more than 60%,” Sheehan said. “And that’s a conservative number.”

Phase two will add a 17-lane security checkpoint in the northwest corner of the airport and a triple escalator that goes from level six directly to the train platform.

Phase three also calls for new floors and ceilings in the baggage claim area, as well as upgrading elevators and escalators near construction areas and restrooms. Airport officials also want to build a Center of Excellence and Equity in Aviation.

“This center will be the first of its kind in the country – engaging, educating, empowering, motivating and providing opportunities for people, young people in the region,” said Washington. “Specifically underrepresented students and young people of color who want to get into the aviation space.”

Washington doesn’t believe phase three should be bid out as a new project.

“In this case, we believe that contractor continuity … is very, very important,” he said.

Putting out new bids would delay the project “18 to 24 months” and “will probably cost us an extra $100 million,” he said.

“I’m a firm believer that when you have an opportunity to finish the job, you do it right. That’s what we’re doing here is doing it right,” Washington said.

He said federal money from the recently signed Infrastructure Investment and Jobs Act could help offset the project’s $1.3 billion price tag.

In a news release, U.S. Sens. Michael Bennet and John Hickenlooper, both Colorado Democrats, said the state would receive $86 million in federal funding for airports improvements and $716 million for highway and bridge projects for fiscal year 2022. The state is expected to receive $430 million in airport funding and $3.5 billion for highways and bridges in the next five years from the federal government, according to the release.

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“Right now, I think we are in probably the best position in the country to pursue those discretionary dollars for terminals,” Washington said. “The reason for that is we are further along with our terminal project than most airports around the country. … This terminal is shovel-ready more so than any other terminal in America.”

If approved by the full council, the proposal would add $900 million to the airport’s contract with Hensel Phelps Construction Co., $100 million to the contract with Stantec Architecture Inc., $50 million to the contract with Jacobs Engineering Group Inc. and $50 million to the contract with LS Gallegos.