Airport project takes flight

By RICHARD ROLKE Morning Star Staff Aug 22 2007 http://www.vernonmorningstar.com/

A chunk of the Vernon Airport is poised for development in the hopes of addressing pilots’ needs. The city has formed the Captain Bailey Way Development Corporation to develop one acre of land at the airport. Nine hangars will be created as well as a residential component geared directly towards the hangars’ owners. “It’s an opportunity to create revenue and support the airport,” said Coun. Pat Cochrane, who is a member of the corporation board. The land will be transferred into the name of the corporation and all shares in the agency will be owned by the city. As part of its duties, the corporation will initiate design and engineering work, as well as pursuing zoning changes to allow for the project.

Cochrane isn’t sure how the corporation will come up with initial funding for the development but is confident those funds will be recouped as pilots purchase hangar sites. He also believes the project will provide a long-term funding source for the airport and reduce the facility’s public subsidy. “The expectation is to make a healthy profit from this development.” The city currently has an advisory committee that oversees operations at the airport, but Cochrane says it was more efficient to have a separate corporation pursue the development. “This corporation was formed for this one project only. It’s different than a corporation running the affairs of the airport.” The new corporation will meet Thursday, and Cochrane is pushing for a a timeline to be established for the development. “Hopefully it will be sooner than later,’ he said. Besides Cochrane, the other corporation members are Barry Jackson, John Blunt, Steve Bertram and John Tigchelaar.