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Airport Question

Printed From: MiddletownUSA.com
Category: Middletown City Government
Forum Name: City Manager
Forum Description: Discuss the city manager administration including all city departments.
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=5765
Printed Date: May 04 2024 at 7:57pm


Topic: Airport Question
Posted By: Vivian Moon
Subject: Airport Question
Date Posted: Jun 07 2014 at 2:02pm
QUESTION: When did the City of Middletown buy the airport and for what amount?
Did we get a bond to purchase this property?


Replies:
Posted By: jag123
Date Posted: Jun 07 2014 at 3:44pm
Airport has always been owned by the city. John Hart as well as others have companies at the airport and rent space from the city.

Posted By: Vivian Moon
Date Posted: Jun 07 2014 at 4:01pm
Jag123
Then what was the 1.5 million dollar bond used for at the airport?
I believe this debt was in 2003 or 2004
Thanks for your help

Posted By: over the hill
Date Posted: Jun 07 2014 at 4:29pm
The airport was built in1987. I don't know if Hogan Air Inc. Had anything to do with it or not. I tried to get Imformation off county records but not much help.

Posted By: jag123
Date Posted: Jun 07 2014 at 4:37pm
The airport was built in the 1930s. The bond was to buy all of the buildings that Mike Hogan built with his own money.

Posted By: Vivian Moon
Date Posted: Jun 07 2014 at 5:11pm

Updated: 10:52 p.m.Saturday, Dec. 19, 2009 | Posted: 10:51 p.m.Saturday, Dec. 19, 2009

Business jumping at Middletown airport
Skydiving team to base operations at Hook Field

By  http://www.journal-news.com/staff/ryan-gauthier/" rel="nofollow - Staff Writer

    MIDDLETOWN — The Middletown Municipal Airport has finally received “the shot in the arm it has been looking for,” said manager Rich Bevis.

    City Council approved a lease with Start Skydiving on Dec. 1, agreeing to construct a $350,000 hangar expansion to lure the company’s premier skydiving team from the Warren County Airport to Middletown. Team Fast Trax — encompassing nearly 70 employees — have packed their bags and will soon make Middletown their home.

    Founder and team member John Hart said his team is hoping to create a world-class skydiving center in Middletown.

    “Cincinnati has the Bengals, now Middletown has Fast Trax,” he said. “We’re excited to get in here and start jumping.”

    Bevis called the deal a “coup for Middletown,” noting the business had an estimated $13 million economic impact in Warren County last year.

    “People are going to come from as far away as Japan, China and Russia just to learn skydiving from these guys,” Bevis said. “Restaurants, hotels, bars, you name it and it will probably benefit from the team coming to Middletown.”

    The lease is currently being finalized by the city, Bevis said, with construction on the new hangar expected to begin in early 2010.

    “In a time where things are going down for most businesses, we’re actually going up,” Bevis said.

    In addition to paying rent on the new facility, Bevis said the team also will burn through approximately 60,000 gallons of jet fuel every year. The going rate for a gallon of jet fuel is approximately $3.50, he said.

    Hart said he has been looking to relocate to Middletown for several years now, as the operation has outgrown its current facilities. Hart said the group did more than 30,000 separate dives last year alone, training an estimated 1,400 new students in the process.

    “Our goal is to be here indefinitely,” Hart said. “We know we’ll be good for Middletown. This community has really embraced us in the past and we just flat-out want to be here.”

    David Duritsch, Middletown’s public works and utilities director, said Fast Trax coming to town is an “important first step in turning the corner” for the airport. Four years after pouring $1.5 million into the facility to purchase the airport’s hangars, he said the city is still paying off that debt.

    Duritsch estimates the up to $350,000 investment will be paid off within the first five years of Fast Trax’s 20-year lease. The team also is investing as much as $225,000 of its own to cover the interior of the expansion, Duritsch said.

 

Posted By: Vivian Moon
Date Posted: Jun 07 2014 at 5:45pm


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Posted By: Vivian Moon
Date Posted: Jun 07 2014 at 5:53pm
Shortly after Judy became City Manager she bundled several bonds together to refinance, I remember the roof removal City Center Mall, the airport however I can't remember the others...??
Do any of you remember the total amount of this transactions? 


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