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10.3 Stage II Development <br />Stage II development shown in Table 10-2 provides for <br />building area improvements including aircraft parking <br />aprons, arrival/departure facilities and hangars. Total <br />estimated costs of Stage II improvements are approximately <br />$1,272,000. Several items are eligible for AIP funds; <br />namely non -revenue producing, public use areas. Total AIP <br />participation would be approximately $531,000. <br />The State Division of Aeronautics' share is approximately <br />$194,000 based on a one-third, two -third cost sharing <br />level. The local share for Stage II development would be <br />approximately $546,000 including hangar development. It <br />is important to realize that hangar development should <br />only be undertaken to accomodate confirmed demand. It <br />also is important to realize that hangar development funds <br />are available through MN/DOT's revolving hangar fund pro- <br />gram whereby 80% of these costs can be obtained on a 10 <br />year interest -free loan. Hangar lease rates then should <br />be structured to pay for the capital improvements and 0 & <br />M costs. Thus, the Community's cost for public use faci- <br />lities realistically is limited to approximately $103,000 <br />for Stage II development. <br />10-4 <br />