City plans to expand airport runway
to the city.
is essential to the city, District 2 Commissioner David Betancourt told 4a board members at the city meeting.
In addition to the two parcels of property the city is negotiating to buy, Brown said the airport needs to buy another 400 acres of adjacent properties.
I believe this financing plan is sensible in light of the (4a boards) mission of job creation and industrial development, Bill Hudson said, a 4a board member.
BROWNSVILLE, Dec. 11, 2003 Hoping to attract business and retain freight operators, the City Commission is planning to borrow more than $4 million to extend the runway at the Brownsville/South Padre Island International Airport.
We could avoid the interest rates with an outright grant. That airport Omega Seamaster Planet Ocean Chronograph Automatic Men's Watch
The expansion comes as the airports two largest freight companies, Menlo Worldwide Forwarding and Bax Global Inc., are contemplating relocating to the Valley International Airport in Harlingen, leaving South Texas Express as the only cargo company located at Brownsvilles airport.
To obtain those Omega Speedmaster Michael Schumacher The Legend Collection Price properties, the commission approved the issuance of $2.4 million in certificates of obligation to be paid back over 20 years.
The 4a board receives a portion of the citys sales tax dollars to fund economic development projects, governed under the Texas Development Corporation Act of 1979, section 4a.
At the City Commission meeting Tuesday, commissioners approved a financing plan to acquire two parcels of property and moved to make offers for other land surrounding the airport.
Commissioners said they hoped the 4a board would consider taking a stronger role in assisting the airport financially.
Brown said the city needs to move quickly to purchase two key properties totaling nearly 400 acres as landowners have made an offer Omega Seamaster 600 Planet Ocean
But providing the airport additional funding could affect other pending projects the 4a board has in mind to bring jobs to Brownsville.
An expanded runway will mean additional activity at the airport, job growth and will benefit the maquiladora industry Omega Watches Qatar
We are making sure that we have the facilities that will allow us to continue to be competitive in the future, he said. Our reason for buying the property is for the future of the airport and we need to act expeditiously.
The city plans to borrow $1.7 million from First National Bank so that the city can purchase the two properties. The Greater Brownsville Incentives Corp., or 4a board, will assist the city in repaying the $1.7 million if the Federal Aviation Administration does not reimburse the city for the runways expansion. Brown expects the FAA to fund up to 90 percent of the expansion cost.
on both sides of the border, he said.
The city plans to expand the airports main runway to 10,000 feet from 7,400 feet to allow sufficient landing space for planes carrying heavy cargo loads, airport Director Larry Brown said.
Brown said the expansion is part of a master plan and is not a response to the freight companies potential departures. The airport has five additional pad spaces, room for additional carriers, and expansion could create between 60 and 80 jobs if new companies decide to operate at the airport.
The 4a board will provide up to $150,000 to reimburse interest cost on the certificate of obligation.
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