11.03.08.05

.05 Table A.

The following table reflects State aid for development of public-use airports:

      Available Loans
Type of Improvement Available Grant Grant Guaranty Percentage Payback Period
     (a)  (b)  (c)  (d)  (e)
Airfield lighting 90% 10 years 90% 10 years
Fueling facilities   —    —  100% 10 years
Hangars   —    —  100% 10 years
Land acquisition:
Easements and in-fee operating equipment: 90% 20 years 90% 20 years
Fire, snow removal, mowing, etc. 90% 10 years 90% 10 years
Pavement:
  New 90% 15 years 90% 15 years
  Overlays 90% 10 years 90% 10 years

Notes:

(a) Interest on loans provided by DOT will be 1 percent above the prime commercial rate at the time loan agreement is executed.

(b) Loan and grant obligation of the airport owner may be secured by a lien or mortgage on the improvement or existing property.