Location
City of Hawley, Minnesota
Overview
The funding involved creative financing through borrowing federal non-primary entitlement funds, MnDOT matching funds, and four Minnesota airports borrowing the city money to be paid back over a four-year period.
Solutions
Sectors
The City of Hawley wanted to increase the revenue generated at their airport to serve a variety of aircraft. A T-hangar was considered but required local costs be kept to a minimum in order to meet market rental rates for hangars. Bolton & Menk developed the layout and funding package for an 8-unit T-hangar with 48-foot doors with local funding participation at only 5 percent. The larger doors allow the hangar to service a greater number of aircraft, thereby increasing demand for the hangar space. The funding involved creative financing through borrowing Federal Non-Primary Entitlement funds, MnDOT matching funds, and four Minnesota airports lending the city money to be paid back over a four-year period. The low outlay of local funds allowed the airport to set competitive market hangar rates to fill the space. Thus, the hangar will serve a broad group of aircraft creating the opportunity for the city to have full capacity. The highly sought-after T-hangar facility provides added revenue for future improvement projects at the Hawley Municipal Airport.
