HOLLIDAYSBURG - Blair County will support a loan for the Altoona-Blair County Airport that will help the airport move forward with some energy-saving measures, put a new roof on the Flight Service Station and consolidate debt.
Commissioners voted Tuesday on a reimbursement agreement allowing the airport to secure an $86,681 loan from the Commonwealth Financing Authority. It is part of a $544,609 note the airport is securing to consolidate its debt.
The Altoona-Blair County Airport Authority voted March 14 to work through M&T Bank on the financing project.
Authority solicitor David Pertile prepared the paperwork and said that after the commissioners' vote, the documents would be ready to submit to the bank and to the Commonwealth Financing Authority.
Commissioners agreed to back the authority's loan and forward payments to the Commonwealth Financing Authority, as long as the airport authority provided six months of payments in an escrow account. The authority agreed.
The consolidation of the airport authority's debt will allow the authority to save about $500 a month on its current debt payment, Airport Manager Charles Pillar said.
Mirror Staff Writer Kay Stephens is at 946-7456.
