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County may seek federal money to cover airport projects
(Tribune-Review Via Acquire Media NewsEdge) Jul. 9--The Westmoreland County Airport Authority is mulling how much federal money to seek to cover the local share for roughly $18.5 million in planned development projects through 2013 at Rostraver Airport and Arnold Palmer Regional Airport in Unity.
"This money is necessary to complete a lineup of projects that will keep us on the forefront of our industry," said authority Executive Director Gabe Monzo.
Based on a review Tuesday by Helen Billak of Pittsburgh-based Raymond James & Associates Inc., the authority has the option of seeking either a $2 million or $3 million bond issue.
Opting for the higher amount would enable the authority to cover a $1 million matching fund requirement for a $1 million state grant recently awarded to L.J. Aviation charter air service for construction of a 28,000 square-foot corporate hangar.
The project is part of a $5 million public-private partnership initiative between L.J. Aviation and Arnold Palmer Regional to relocate existing general aviation T-hangars to facilitate an expansion of the company's corporate campus.
Called the keynote project in the projected five-year lineup, the hangar would include 10,000 square feet of office space and room for some of the company's 28-airplane, 7-helicopter fleet. The building would also provide rented space to aircraft of other regional companies, said company director of marketing and sales Dan Kilkeary. Completion is expected within two years.
Last year, L.J. Aviation installed a fuel farm for more than $500,000 to meet its operational needs, which exceed 10,000 flight hours to more than 30 countries worldwide.
Based on still-incomplete planning and cost analyses, the authority has yet to determine its plan regarding the required matching portion of the state grant for the L.J. Aviation hangar.
"We have to develop a scope for the project and make sure we get the money in place to finance it," said authority spokesman Dwayne Pickels.
Also on tap are roughly $12 million in federal Airport Improvement Program projects at both airports that have been reviewed by the Federal Aviation Administration and the state Department of Transportation.
The authority's board of directors plans to hold a special meeting to confer with county officials on the amount of federal money to be sought prior to its next regularly scheduled meeting Aug. 12.
"(The bond money) is an investment that will pay dividends beyond the visible airport improvements," Monzo said. "It will go a long way toward sustaining and strengthening the region's economic vitality."
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Copyright (c) 2008, Tribune-Review, Greensburg, Pa.
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