New Philadelphia, Ohio (WTUZ) – Harry Clever Airport will have a new 12-bay airplane hangar once bids go out.
The Ohio Department of Transportation’s State Infrastructure Bank notified the City of New Philadelphia recently of the loan application approval.
Mayor Joel Day explains the 20-year agreement had the lowest interest rate at 3% for the loan duration.
“Part of the loan agreement is that we don’t pay any interest in the first year. We’ll pretend that we make the full monthly loan payment but that extra we’ll put back in order to lower our monthly payments once year two and beyond kick in.”
For the new hangar, the Airport Commission confirmed 12 aircraft owner commitments to fill the spaces. Three individuals are current renters and the remainder are plane owners who live in the area but currently house their aircraft at another airport.
The ODOT loan is for $504,000, and bids have to be advertised and accepted by an August 31st deadline. - Mary Alice Reporting