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<br />. <br /> <br />. <br /> <br />. <br /> <br />relocated. Gateway developnent would in vol ve approximately 230 acres ~ fee <br />simple acquisition; acquisition would be eligible for 90% Federal fundJ.ng and <br />10% local funding. <br /> <br />Mr. Otto proceeded to discuss developnent oosts as follows: <br /> <br />Stage I - Necessary acquisition for developnent of airport building area, <br />runway, runway associated clear zones, land necessary for the relocation <br />of County Road #116. Stage I costs are estimated at $4,000,000; all of <br />items in Stage I are eligible for 90% Federal funding and the local <br />responsibility would be 10%. Mr. Otto noted that these Federal airport <br />funds are derived fran aviation user generated revenues; they do not come <br />out of the general taxpayer's pocket. <br /> <br />Stage II - Developnent of public use aircraft parking area, arrival! <br />departure building, auto parking, access road to hangars, tie-downs and <br />lighting. Estimated oost of Stage II is $720,000. All of the public use <br />items are eligible for 90% Federal participation; revenue producing items <br />like fuel tanks and auto parking are not eligible for Federal funding, <br />but the State participates on a 2/3 ! ]/3 basis - local share in Stage II <br />would be approximately $100,000 without hangars. <br /> <br />Stage III - Includes expanding to meet forecast growth needs from 1995- <br />2005; additional hangars and expansion of aprons, auto parking and <br />perimeter road. Estimated cost is $250,000. M:>st of these items are <br />eligible for AlP funds and the local share would be approximately $30,000 <br />without hangar developnent. With hangar developnent the local share <br />would be considerably higher because they are revenue generating and not <br />eligible for Federal funding. '!he State has an interest-free revolving <br />fund to assist in the developnent of hangars; this revolving loan fund <br />can also be used for the developnent of maintenance hangars. <br /> <br />Mr. Otto stated that there are three areas of eoonanic benefit associated with <br />airport developnent: <br /> <br />1. Direct benefits fran construction program. <br /> <br />2. Continuing benefits by virtue of users. <br /> <br />3. Large number of indirect benefits that are difficult to measure. <br /> <br />Mr. otto stated that a study performed by Georgetown University states that <br />every $1.00 put into a oonstruction project generates $2.80 in eoonomic <br />activity. Mr. otto pointed out that Stage I oosts, minus land acquisition, <br />are $1,250,000; if $2.80 is generated on every dollar, the eoonomic activity <br />generated would be $3,500,000. '!he oc:mnunity's share in the oost of Stage I, <br />including land acquisition is $500,000; Ramsey would only have to realize $.40 <br />to $.50 eoonomic activity generation on every dollar for the oc:mnunity to have <br />a payback on it's investment. <br /> <br />Mr. Otto proceeded to discuss eoonomic benefits fran transient inooming <br />airport traffic and stated that several studies indicate that the average <br />itinerant spends $50 to $70 per day in the area for hotels, food, auto rental, <br />May 15, 1985 <br /> <br />Page 4 of 11 <br />