Bob Hope Airport, which rebranded its public name to Hollywood Burbank Airport in 2016, is owned and operated by the Burbank-Glendale-Pasadena Airport Authority. This is a "Joint Powers" agency formed by the three namesake cities under a 1977 agreement. The authority consists of nine commissioners—three from each city—who oversee the airport's operations, safety, and the massive $1.2 billion "Elevate BUR" terminal replacement project currently underway in 2026. While the airport is public property, it is situated on land that was originally owned by United Aircraft and later Lockheed. Lockheed sold the facility to the tri-city authority in 1978 for $51 million. Today, the airport remains a crucial alternative to LAX, prized for its convenience and smaller scale. Comedian Bob Hope's name remains the "legal" name of the facility in honor of the local legend, even though the "Hollywood Burbank" branding is what appears on the terminal building and flight booking systems.