VALDOSTA — The Valdosta-Lowndes County Airport Authority continued its discussion on funding for the construction of seven new aircraft hangars Wednesday.
Airport Authority Executive Director Dr. Patti Clark explained that the City of Valdosta and Lowndes County Board of Commissioners were initially asked to go into an intergovernmental agreement for $2.2 million to fund the hangar construction. However, this agreement was withdrawn by both entities.
The city and county had already budgeted $900,000 each to the authority through SPLOST IV.
Therefore, the city has agreed to provide $450,000 upfront and $450,000 at the end of the construction.
After funding is provided by the county, there will be a remaining balance of $460,000 for construction. The city has agreed to provide a loan of up to $500,000 to finish construction with an eight-year payback period at a five percent interest rate.
With a lack of money to give the airport one lump sum, Lowndes County is considering providing the budgeted funds in installments, Clark said.
The authority plans to construct six corporate hangars for company planes and one T-hangar for general aviation aircraft.
The authority has been eager to get started on construction for three months. A local contractor has been selected, and the project is expected to create several local jobs.
In other business, the authority approved a paradrop system proposal from Moody Air Force Base. The system will allow Moody airmen to come in from different directions via plane, jump and drop in at the airport by parachute.
Moody personnel explained that the Tifton airport currently has a paradrop system that does not appear to interfere with the daily operations of the airport. Clark also informed the authority that the airport had room to support paradropping.
The Valdosta-Lowndes County Airport Authority will meet at 8 a.m. on Dec. 9.
Local News
Funding aircraft hangars
City to pay $900,000 and provide loan
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