KANSAS CITY, MO (KCTV) -- Airline executives met in downtown Thursday after making a milestone agreement, settling on what a new single terminal KCI should cost.

A representative from Southwest Airlines started the meeting by saying they have reached an agreement between Southwest and the majority of the airlines at Kansas City International Airport. They expect six of the eight carriers to sign off in a couple weeks.

Southwest has set their estimate for the project at $1.5 billion, which does not include financing. That’s because the developer is so early in the process and estimates can vary.

The airline representative says everyone agrees on the amount, and they can adjust if needed. If the price goes over, the airline representative says airlines will be on the hook for the final price.

Because the design process is still in the early stages, a lower budget was able to be set and developers can design toward that price. 

Both the airline representative and Edgemoor's project manager said the new single terminal at KCI will still meet the requirements and that nothing will be cut from the design.

“It might be looking at the flooring, it might be looking at how we treat the roof or how we treat lighting systems, so there’s a variety of different ways to approach cost-saving measures," said Geoffrey Stricker with Edgemoor. "Each project is different, so we'll identify what we think is appropriate here.”

Right now, only 10 to 15 percent of the design process is complete. At 70 or 80 percent, things will start to firm up. An official budget is expected in about six months.

At least one councilmemember has some concerns. 

“We are led to believe today that we are going to find approximately almost $300 million worth of savings just through the design process," Scott Wagner said. "I want to see a document that explains how all that works.”

The city’s lawyers will look over the agreement to make sure it reflects what was heard today.

The Aviation Department expects to have a term sheet signed by Feb. 25.

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