City may get in hangar business
Leada DeVaney, Hartselle Enquirer
Hartselle may soon be in the airport hangar construction business.
The city is seeking proposals from local banks to finance the construction of 14 new hangars at Hartselle's Rountree Field.
The estimated cost of the three separate hangar buildings is some $535,520.
The proposal is the latest wrinkle in a plan to bring more planes – and more tax dollars – to the airport. Airport manager Stoney Powell had proposed financing the hangars himself, a plan the city initially agreed with. Now, however, Councilman Frank Jones said the city is considering doing the project itself.
"This is a better business investment for the city," Jones said. "We're maximizing the airport the city owns."
Powell would be able to sell fuel and supplies for planes, while the city would reap the benefits of the rental fees.
The city estimates the income generated by the hangars would be some $38,000 per year and officials want to use a local line of credit to pay for the construction. According to city officials, the city has been discussing a five-year line of credit with a 4 percent fixed interest rate. Those payments would be $7,000 quarterly.
Under this plan, the city could opt to construct a fourth hangar at a cost of some $137,000 with a payback on the interest of $460 per month.
This latest plan may not sit well with homeowners near the airport.
Homeowners have complained of the noise and traffic generated by the airport. A group of homeowners had asked the city to consider a study to move the airport, but the council decided against pursuing the proposal.