There will be three new T-hangar buildings of 14 units each – a total of 42 new hangars. Construction costs for this new project will be about $2.8 million.
The anticipated length of the wait list for a T-hangar at the Flagler Executive Airport just got shorter.
The Board of County Commissioners at its regular meeting on Monday, April 19, approved a Florida Department of Transportation Public Transportation Grant Agreement for $117,000 that will completely fund the design costs for three new T-hangar buildings of 14 units each – a total of 42 new hangars.
“The airport currently has 56 T-hangars, which are all occupied,” Airport Director Roy Sieger said. “The T-hangar waiting list has 79 individuals on it, with an average waiting period of approximately two years to get a hangar.”
The last time additional T-hangars were added to the airports assets was in 2011. Two buildings housing 10 hangars each were built.
Construction costs for this new project will be about $2.8 million – $560,000 to the Flagler Executive Airport – but T-hangar leases will offset the costs and then some.
“These T-hangars provide a nice revenue stream, which is important for us because we operate as an enterprise fund,” Sieger said. “None of our operating funds – or capital project funds – come from property tax. Everything is paid for through revenues from grants, or earned through ground and building leases and fuel sales.”
Sieger made a presentation to commissioners during an April 5 workshop that proposed that would delay a long anticipated new general aviation terminal by one year to build the 42 new hangars with the goal of increasing airport revenues.
The additional monies will be used in part to help repay the loan needed for the terminal, which will be about $1.3 million to be paid by the Flagler Executive Airport. The Florida Department of Transportation has committed to paying 80% of the $6.5 million project total.
County Administrator Jerry Cameron praised Sieger at the workshop for his financial management.
“This creates an income stream that will support the debt service for a future terminal building,” County Administrator Jerry Cameron told commissioners. “It’s fiduciary responsibility.”