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If the airport is publicly owned, the City becomes e!igible for <br />state cost sharing for operations and maintenance expenses and for <br />funding building improvement projects. Hangars, for example, are <br />typically funded through a no interest revolving fund loan to the <br />City for 10 years. Eighty percent of the building cost may be <br />funded with 20% being funded by the local sponsor. These should <br />only be constructed based' on demand so that rental rates <br />immediately begin to offset the building co~t~. <br /> <br />Staff Recommendation: <br /> <br />That City Council direct staff to meet with Mn/DOT to prepare <br />appropriate agreements to begin implementation of the Airport <br />improvement project on a state/local basis. <br /> <br />council Action: <br /> <br />Will be based on your discussion. <br /> <br />Review Checklist: <br /> <br />City Administrator X <br />City Attorney X <br />City Engineer X <br />Community Development Dir. X <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Supt. <br />Other <br /> <br />X <br /> <br /> <br />