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File Photo: Kelly Hayes - Castanet
File Photo: Kelly Hayes - Castanet

Airport borrowing on agenda

by - Story: 36702

Kelowna City Council is expected to approve the borrowing of more than $45 million for improvements at Kelowna International Airport when it meets Monday.

Council is being asked to approve the borrowing of the funds from the Municipal Finance Authority of B.C. as part of its Spring 2008 issue.

Kelowna Council passed a bylaw back in December authorizing the funds for improvement projects at the airport.

Revenues from Airport Improvement Fees will will repay all costs of borrowing the funds.

Improvements at the airport include extension of the current runway, expansion of the terminal building, construction of a new car rental terminal, and additional vehicle parking.

Construction is expected to be complete by 2010.

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