|
PTC Airport Authority
seeks assurances on hotel/motel tax figures to get loan
By
MICHAEL BOYLAN
mboylan@TheCitizenNews.com
After all of the hullabaloo
with the Development Authority, banks want all the i’s dotted and
their t’s crossed when organizations like the Peachtree City Airport
Authority come to them seeking a loan. The airport authority is seeking
a $350,000 loan which will be used for Aviation Center roof repairs and
the paving of Stallings Road. Last night, members of the authority were
scheduled to speak to the City Council to get an endorsement for getting
the loan and assurances that they will get enough hotel/motel tax revenue
to pay back the loan.
Though airport authority chairman Cathy Nelmes and authority member Jerry
Cobb are looking to see if there is a better deal out there, it appears
that Peachtree National Bank will give them a loan at 85 percent of prime,
as long as all of the authority’s ducks are in a row.
While Nelmes is optimistic about Thursday’s appearance before council,
she stated that they need to start work on the roof by November. Airport
manager Jim Savage agreed that there is a narrow window. He was told the
job was a 30 day job and if a wet winter starts early it could delay the
work and add to the cost. The estimated cost of the roof repairs is $200,000,
while the paving of Stallings Road will cost $150,000.
“We have worked with Peachtree national bank for many years and the
city has always been supportive of us as well,” said Nelmes. “I’m
optimistic that everything will work out.”
Back to News Home Page |
Back
to the top of the page
|
