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charge as anything that is considered a revenue producing center does not <br />qualify for AIP funds. Hangar development is a 2/3 State and 1/3 City <br />participation effort. WVDoT has a separate revolving hangar fund available to <br />sponsoring governments on a 10 year/interest free loan basis. Hangars are <br />developed as needed. The City's share of total development costs, with hangar <br />development, could go as high as $1,300,000. The City can choose not to get <br />involved in hangar development and lease the land to a hangar developer. <br />Mr. Otto stated that, most-acamonly, cities pay for airport development fran <br />accumulated funds built up over a period of time as there is a long lead time <br />in projects of this magnitude. Same cities pay for the development through <br />G.O. bonding; a $500,000 bond at 8% with a debt retirement of $51,000/year <br />would amount to $11.00/household in Ramsey; as development occurs and shares <br />the tax burden, that $11.00 figure will decrease. Another way to finance <br />airport development is to establish a tax increment district that would <br />encompass the airport area and the tax increment dollars derived fran that <br />district would be used to pay the City's share of airport development ousts; <br />with this process, the people most benefitted ty the airport would be paying <br />for it's development. <br />Chairman Ippe1 opened the meeting for comments and/or questions and answers. <br />Patrick Kennedy - 7231 151st Avenue NW - The airport issue should be put to a <br />referendum vote. <br />Richard LaZerte - 7260 151st Avenue NW - There were earlier comments about 4 or <br />5 public meetings having been held already; was never notified of any of those <br />meetings. <br />Chairman I1 - Those meetings were publicized in Union, Shopper and City <br />Newsletter and in one case, a city-wide mailing just as was done for tonight's <br />public hearing. <br />Mr. Otto - Initial public meeting was May 16, 1984; the next one was August 22, <br />1984; another one on September 19, 1984; and a joint IDC/Couzcil/Airport <br />Oannission public meeting in the Spring of 1985; all were publicized. <br />Commissioner Sieber - The Airport Cannission meets the third Wednesday of the <br />month and all meetings are open to the public. The Ctamission has used every <br />source available to publicize it's special pthlic meetings. <br />Chairman Ippe1 - There was a regular Oarmission meeting in which landowners <br />potentially affected by airport land aoruisition were invited to attend; those <br />landowners were identified through Cbunty records and the property owners of <br />record were notified. <br />Ramona O'Donnell - 7300 150th Lane NW - She and two other property owners in <br />the saftey zone area did not receive an invitation to attend that particular <br />Commission meeting. <br />Chairman Imp' - Residents in the safety zone�did not receive a special <br />invitation tecause properties in the safety zone are not recommended for <br />acquisition. al) <br />August 21, 1985 <br />Page 4 of 14 <br />