The Decorah Municipal Airport five-year capital improvement plan (CIP) could leverage more than $1.6 million in state and federal funding, according to City Manager Chad Bird.
The Decorah City Council last week approved the plan that was recommended by the Decorah Airport Commission. The plan is a requirement of the Federal Aviation Administration (FAA) and the Iowa Department of Transportation.
The new plan focuses on corporate hangars and renovation and improvements to the regular hangars at the airport, Bird said.
The city can apply for FAA grants that pay for 90 percent of projects, with the city providing a 10-percent match. The city potentially could receive $1,626,250 in funding over the five years of the plan with a local match of $188,750, Bird said.
The plan also includes new terminals and improvements to the lounge area.
Council member Julie Fischer asked who pays for corporate hangars. Bird said the corporation typically puts up its own hangar, which it leases for an extended period.
"At the end of the lease, the hangar reverts to the airport," Bird said.
Bird said one local corporation has been talking to the Commission about having its own hangar at the airport.
The five-year CIP is updated annually. The Council must approve any airport projects.