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Airport Advisory Board Meeting <br />May 29, 2001 <br />Page 2 <br /> <br />hangars have a clearance of 10 feet. <br /> <br />The economic considerations are also a part of the options. The cost of <br />both the 10 unit and 7 unit hangars is approximately $155,000. With <br />the current monthly rent of $110 for each hangar, the 7 unit generates <br />$770 per month. The 10 unit would generate $1,100 per month at the <br />current rates, not adjusted for inflation, the 7 unit hangar would pay <br />out in 16 years and 9 months. The 10 unit hangar would pay out in 11 <br />years and 9 months. <br /> <br />Considering these facts plus the economic impact the airport has on the <br />city and county, the chairman asked for a recommendation in the form <br />of a motion. <br /> <br />III. <br /> <br />After discussion of the advantages and disadvantages of the two <br />different hangar units, 7 units versus 10 units at the same price, Mark <br />Buster moved that the Board recommend to the City Council that they <br />choose the 7 unit for construction; the motion was seconded by J.B. <br />Richey and approved by 3 to 2 vote. Mark Buster, J.B. Richey and Col. <br />Ashmore voting in favor of the motion and Victor Abeles and James <br />Proctor voting against the motion. <br /> <br />IV. The meeting was adjourned at 6:25 P.M. <br /> <br />J. W. Ashmore, Recorder <br /> <br /> <br />