Airport board asks Elizabethtown for $600,000 bridge loan to complete tee‑hangar project

Carl Swope, chairman of the Elizabethtown Airport Board, asked the City Council on Jan. 12 for approximately $600,000 in short‑term bridge funding to complete a tee‑hangar project that he said totals about $2,500,000.

Swope said the board pursued federal and state grants for the project but encountered two problems: unanticipated site mitigation that cost roughly $200,000, and an earlier completion than anticipated that left the board short of the next round of federal grant funds. He characterized the requested funding as short term—about 18 months—by which time he expects to bridge to federal funds and pay city support back.

Swope described airport funding norms, saying FAA grants typically cover about 90% of eligible costs while state and local shares cover the remainder. He asked whether the city could provide bridge funding and suggested the airport would repay the amount as federal and state assistance arrives. Council members expressed support for pursuing an agreement; one council member advised staffer Ken to draft a formal agreement that spells out repayment and terms.

No formal vote or ordinance to provide funding was taken at the Jan. 12 work session; council members directed staff to develop the agreement and return with details. Swope and board members in the audience — including retired pilots Don Cox and Eddie Burgess and former councilman Willie Wood — described recent airport progress, including a privately funded corporate hangar and a state‑funded terminal project that Swope said remains on time and budget.

Council members asked about interest or financing terms; Swope said some local bridge terms discussed are low (he referenced a '2%' part of the funding conversation) but did not present a signed loan agreement. Staff will draft a proposed agreement for later council consideration.