HIGHFILL -- The Northwest Arkansas Regional Airport approved a master plan Wednesday, pending approval from the Federal Aviation Administration.

The 20-year plan will list an estimated $210 million in capital projects, equipment replacement and maintenance projects along with alternatives, according to Scott Van Laningham, executive director and CEO. The primary runway will be retained as will an alternate landing surface. Land will be retained for extending the main runway in the future.

The plan calls for some borrowing in the form of bonds for several large projects, including an access road and a 900-space parking deck.

A toll system or airport access fee could be used to help pay for the access road. Officials could decide to begin collecting a fee or toll on airport-owned roads to raise money for the access road. A four-lane access road from the planned U.S. 412 bypass to the airport is expected to cost about $38 million. A two-lane road would cost about $30 million. Right of way acquisition is expected to begin in 2017 but could happen sooner.

Parking fees should pay for the new parking deck.

Other potential projects identified in the plan include expanded areas for car rental companies and airlines. The Airport Board is also planning to reserve space on the east side of the property for a second runway. A second concourse is also planned at some point.

The plan will include a financial planning tool to estimate the cost and economic impact of projects as well as match anticipated revenue with capital needs.

It also will serve as a land use plan, indicating how, when and which areas of property will be developed. It will have a schedule for projects and show where the money will come from to pay for it all.

The document, developed by Meade and Hunt, looks at projects expected to be needed within the next five years, five to 10 years and 10 to 20 years down the road.

The plan was unanimously approved. It goes to the FAA for review and comments.

Mark McFarland with Meade and Hunt said FAA comments could result in changes to the document, but he doesn't expect any significant comments.