Explanation
BACKGROUND: This legislation authorizes the Director of Development to enter into an agreement with the Columbus Regional Airport Authority and Franklin County in which the City will grant up to $940,000 to the Columbus Regional Airport Authority towards the construction of a transportation related enhancement at Rickenbacker. The enhancement is an apron (i.e., ramp) that will provide access to the street and highway system for the airfield and an adjacent development site, and will allow delivery trucks to load and unload cargo and materials from aircraft. Construction of the apron will induce AirNet Systems, Inc. to relocate its growing flight and maintenance operation from Port Columbus to Rickenbacker. The grant agreement will require future annexation of the AirNet site to Columbus. Relocation of AirNet from its existing site will benefit Port Columbus by freeing space for future terminal expansion. By relocating to Rickenbacker, AirNet will gain the space it needs to expand its flight and maintenance operations. Columbus will benefit by retaining AirNet's 430 jobs and annual payroll of $17.7 million, by the creation of 40-50 new jobs, and by the addition of a new 131,000 square feet facility with an anticipated value of $9.1 million. Rickenbacker will benefit in that the apron will improve access to the street and highway system for the airfield and will allow the airport to better meet the needs of private sector industry. Participation by Columbus will leverage approximately $2.96 million in funding assistance for the apron from Franklin County ($460,000) and the State of Ohio ($2.5 million). The Columbus Regional Airport Authority will provide additional funds to complete the apron, if necessary. The total cost of the apron construction is estimated to be $4.2 million. FISCAL IMPACT: The expenditure of up to nine hundred and forty thousand dollars from the Department of Public Service, Voted Streets and Highways Fund ($940...
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