$45 Million For Airport

by Wayne Moore - CASTANET

The City of Kelowna will need to borrow about $45 million to complete improvements at the Kelowna International Airport. In a report for Monday's city council meeting, Airport General Manager Roger Sellick says projects included in the program are funded from Airport Improvement Fee revenues. "To accommodate this expansion, it will be necessary to change from the existing process of internal financing for the AIF program to borrow through the Municipal Financing Authority," says Sellick. He says based on revenue projections with the $10 AIF charge, the airport will repay all borrowing by 2017.