So far in the project, the airport has built new facilities to house car-rental maintenance operations. That allows ongoing demolition of older car-rental buildings to make way for new terminal facilities.
Williams said the airport has spent $127 million so far and 97 percent of that work went to area contractors.
Much of the work so far generally has been out of the view of passengers, but that will change next month.
Williams said a new road is being built close to the side of the parking garage and away from some current terminals and traffic is expected to be diverted to it next month, also to make way for construction.
He said single lanes of the current road also will be closed at times in coming weeks to allow relocation of some utilities.
The board was told that current facilities were designed to handle about 10 million passengers a year. But last year, the airport handled more than 22 million travelers showing why new facilities are needed.
The board was told that the airport plans to bond, or borrow, for about $1.01 billion with a 30-year term to help finance the project.
The bonds will be paid through future airport revenue. Cash from taxes paid by airline passengers and rental-car users plus some federal grants will be tapped to hold down the amount borrowed.