Sometimes it pays to be small.

Green Airport falls into that category, although those promoting the state would just as soon be thought of as “large,” if not “medium.”

Green used to be a “medium hub” airport, and when it gained that designation, the Rhode Island Airport Corporation touted the development. By the same token, however, when declining passenger traffic resulted in its reclassification as a “small hub,” nobody said anything. That happened about two years ago.

But small is good – not to coin a new slogan for the state – as Peter Frazier knows all too well. Actually, the interim RIAC president and CEO said this week the designation has made it easier for the agency to meet its capital budget by saving $6.8 million that can now be used on other airport improvement projects. The $6.8 million can’t be used on operations.

Reached Tuesday for details on the $9,322,986 in federal funding for jet noise mitigation announced Monday by U.S. Sen. Jack Reed, Frazier said the state match for the grant is 10 percent. That 10-percent match has been the case for about two years.

That wouldn’t be the case if Green Airport were classified as a “medium hub,” as it had been. As a medium hub, RIAC picked up 20 percent of sound insulation projects funded by federal grants. The ratio was even higher for airport improvement projects, where RIAC picked up 25 percent of the cost. Now, as a small hub airport, RIAC’s share of improvement projects is 10 percent.

“We’re probably the largest small hub airport,” Frazier said without the least regret.

As for the latest grant, which will be used for ongoing home sound insulation and the voluntary acquisition of homes in the high-noise contour, Frazier said RIAC is “deeply appreciative of Sen. Reed helping to ensure a steady flow of funds.”

Of the latest injection of federal funds, $887,032 will be used for the acquisition of three homes. Thus far, 65 homes of the 83 identified as eligible for the voluntary program have been acquired. Overall, the program is projected to cost $24.5 million. It targets properties that have been identified as coming within the 70-decibel noise contour by 2025 as a result of the runway extension to be completed by December 2017. The memorandum of understanding that RIAC and the city signed ending the city’s legal challenge of the runway extension provides for acquisition of the homes prior to their being in the high-noise contour.

Homes eligible for sound insulation are in the 65-decibel noise contour. A total of 578 housing units have been identified, of which 114 have been completed and 130 are under construction, Frazier said.

The $33 million program is to be completed by the second quarter of 2018. The average cost of sound insulation per unit is $48,000 and includes window and door replacements, additional drywall, and heating and air condition systems, if needed.

Northeast Noise Abatement Corp. of Warwick is doing the current round of work.

“They keep a nice sharp pencil,” he said of the lower bidder.

In a statement, Reed said, “The airport is a community asset and it must be a good neighbor. This federal funding will provide targeted relief from airplane noise to those who are most directly impacted. It should help reduce the noise threshold for homes in the area.”

Reed has worked with the Federal Aviation Administration (FAA) to invest approximately $110 million in upgrading T.F. Green and extending the main runway by 1,500 feet. When completed, the new 8,700-foot runway will help the airport better accommodate direct, long-distance airline service. The extended runway is expected to be ready for takeoff around December 2017.

In April, Reed helped pass an FAA reauthorization through the U.S. Senate to enhance airport security, extend new protections to airline passengers, and keep improvements to T.F. Green on schedule. A final version of the bill negotiated with the U.S. House of Representatives is scheduled to be debated by the U.S. Senate next week.

In a follow-up email, Frazier said: “By [and] large, we view this ratio change as primarily receiving more federal grants and not so much as a “savings” [as it doesn’t reduce the cost of a project] to RIAC. While RIAC’s contribution towards the project will be less, it is primarily a reduction in our use of PFCs [passenger facility charge].”

Frazier said PFCs must be spent on airport improvement projects so that, in effect, the change to “small hub” enables RIAC to take on other projects.