If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#1
|
|||
|
|||
Orange Curtain to drop at Fullerton ??
"FULLERTON June 20, 2008 – The Fullerton Municipal Airport – Orange
County's last general-aviation airfield – is $3.9 million in arrears for city franchise payments. City officials want the airfield's revenues to match what it costs to operate. Founded in 1927, the city-owned airport started paying a franchise fee in 1982 after officials determined local government was financing many airport services, including police, fire, accounting, employee recruitments and benefits and the ordering of goods. "The initial payments were $200,000 and kept constant until 1992, when it was decided the fees should increase to keep up with inflation according to the consumer price index," said Glenn Steinbrink, the city's finance director. For fiscal year 2008-09, which begins July 1, the payment will be $320,000, which Steinbrink said the airport will be unable to make. "If the airport weren't there and there was some other use, the city could bring in property taxes and other taxes such as retail sales tax or hotel-transient occupancy tax," Steinbrink said. ... Part of the financial problems erupted when a hangar construction project fell two years behind, and costs increased more than expected, Steinbrink said. In 2005, a $6.2 million, 15-year loan was secured at a 4.15 percent interest rate. Payments were set at $569,000 annually. Airport director Rod" Propst figures that the loss in rent from most of the 149 new hangars over the two-year period amounted to approximately $240,000. The project was completed in March." IMHO, the traffic can be split between ONT, SNA and the gov. site at Los Alamitos. |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
"behind the iron curtain" info on F-14 | Nele VII | Naval Aviation | 4 | May 10th 06 11:52 AM |
"orange peel" and dope | Michael Horowitz | Home Built | 3 | June 17th 05 03:40 AM |
Aztec Curtains and curtain sliders | Jim Burns | Owning | 0 | January 24th 05 05:27 PM |
Near-miss over Orange County, Calif 6/30 8:08 pm? | HBYardSale | General Aviation | 4 | July 13th 03 02:03 PM |