PTC Airport Authority seeks assurances on hotel/motel tax figures to get loan

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PTC Airport Authority seeks assurances on hotel/motel tax figures to get loan

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After all of the hullabaloo

with the Development Authority, banks want all the i's dotted and

their t's crossed when organizations like the Peachtree City Airport

Authority come to them seeking a loan. The airport authority is seeking

a $350,000 loan which will be used for Aviation Center roof repairs and

the paving of Stallings Road. Last night, members of the authority were

scheduled to speak to the City Council to get an endorsement for getting

the loan and assurances that they will get enough hotel/motel tax revenue

to pay back the loan.

Though airport authority chairman Cathy Nelmes and authority member Jerry

Cobb are looking to see if there is a better deal out there, it appears

that Peachtree National Bank will give them a loan at 85 percent of prime,

as long as all of the authority's ducks are in a row.

While Nelmes is optimistic about Thursday's appearance before council,

she stated that they need to start work on the roof by November. Airport

manager Jim Savage agreed that there is a narrow window. He was told the

job was a 30 day job and if a wet winter starts early it could delay the

work and add to the cost. The estimated cost of the roof repairs is $200,000,

while the paving of Stallings Road will cost $150,000.

"We have worked with Peachtree national bank for many years and the

city has always been supportive of us as well," said Nelmes. "I'm

optimistic that everything will work out."

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