A 10-year Kentucky TriModal Transpark financing plan that relies heavily on Bowling Green- and Warren County-backed revenue bonds was unveiled Wednesday during InterModal Transportation Authoritys monthly board meeting. The plan also calls for $16.1 million in state grants during the next five years.(We) have had meetings with the state budget (personnel) and received a warm and favorable response from them; they indicated they still had support for the project, said Spencer Coates of Baird, Kurtz and Dobson, the accounting firm that unveiled the plan. Coates said the project is unique in that most requests for state funding involve items that dont generate revenue. … We are asking for state funds to create jobs, he said. Coates told the board that cooperation between chambers of commerce, industrial groups and state lawmakers is necessary for the project to succeed. ITA President Dan Cherry said the business plan is conservative but will create 2,250 jobs and $80.5 million during the next decade. Opponents say the projects economic feasibility is unproven, especially when it comes to plans for an airport with a 7,000-foot-long runway. ITA has been rebuffed in two attempts to secure Federal Aviation Administration funding that would cover up to 90 percent of a new airports construction cost, because the FAA said the need for a new airport to replace the existing Bowling Green-Warren County Regional Airport hasnt been proven. ITA since has changed its tactic: The new financing plan counts on FAA funding for 90 percent of a new airports enhancements including a control tower not the whole airport. ITA hopes the city will annex the proposed transpark property and create a tax-increment district to raise funds to be reinvested in the park and help fund an airport planned for 2005, when additional bond anticipation notes would be sold. Under the plan, only 80 percent of incremental revenue generated by the district would be used to pay for the project. The remaining 20 percent would go back to the city and county to provide for additional services incurred, such as fire and police protection. The plan calls for $43.5 million to be raised through bonds. Part of ITAs revenue projections include $17.39 million in net revenue from the sale of the current airport in 2009.By moving forward with land acquisition and by developing the project in phases, ITA hopes to attract businesses that need an airport and persuade FAA to come through with enhancement funds. Despite recent enhancements, the current airport off Scottsville Road hasnt attracted regular passenger service. That is because of insufficient demand to support profitable operations, rather than lack of facility capability, said Joey Roberts, spokesman for Warren County Citizens for Managed Growth, a group opposed to the transpark. ITA also recommended that Presnell Associates of Louisville handle land acquisition for the project, which would create a large industrial park served by road, rail and air service on a 4,000-acre site between U.S. 31-W and U.S. 68-Ky. 80 near Oakland. ITA plans to begin acquiring 2,000 acres in July, with actual development to take place in 240-acre increments in 2002, 2005, 2008, 2011 and 2014.