Friday, July 13, 2001
Friday, July 13, 2001 |
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PTC Airport Authority approves $200,000 loan for roads, parking and utilities at new hangar area
By JOHN
MUNFORD
The Peachtree City Airport Authority has voted to secure a $200,000 loan for part of the third phase of its newly designated commercial hangar area that's under construction. The funds will cover construction of roadways, auto parking areas and utility infrastructure for the project. The rest of the construction will be paid for by federal and state grants. The loan will likely be paid off within seven years, Falcon Field Manager Jim Savage said at Wednesday night's authority meeting. The payments will come from the city's increased payments to the authority coming from the recent increase in hotel-motel tax funds from 3 percent to 5 percent. Originally, the low bid for the project came in at $168,000. However, that did not include running utilities such as gas and electricity to the hangar area since the engineer didn't include that in the bid package, Savage said. After adding the utility costs, the total rose to $220,000, Savage noted. The authority decided to hold off installing the gas line, which will save $15,000. Some items could be cut from the project to trim the figures down another $5,000, Savage added. In other business, the authority also decided to assess Consumer Price Index adjustments in three-year intervals on all airport leases, storage fees and access agreements. Authority Chairwoman Catherine Nelmes said it would be fair to all tenants since it would allow them when to expect a cost increase. The first adjustment will be applied July 1, 2004. All leases, fees and agreements will be adjusted on the same date to make it easier to keep track of, Savage said. The adjustments will take into account the percentage change in the CPI over the previous three years so the airport's fees can keep up with inflation, Savage said.
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