MT. VERNON — With no comments during a public hearing, Mt. Vernon's Airport Authority approved its 2013-2014 tax levy and budget on Tuesday.
The airport will levy the maximum amount allowed, 4.9 percent, which will generate about $118,860, information states.
The Authority is anticipating having $115,378 on hand when the fiscal year begins on May 1. The Authority approved $438,917 in revenues and $437,417 in expenses for the coming year, leaving a cash balance of $116,878 by April 30, 2014.
In other new business, the Authority put on hold the taxiway B and E1 revitalization project.
“We've had our environmental assessment done for quite some time,” said Manager Chris Collins. “But since the study was done in 2009, costs have increased, and without the reauthorization bill, we can't do it until the next bonding cycle.”
Collins and Authority members said the decision to stand in a holding pattern is based on financials.
“A $250,000 project has become a half-a-million dollar project, and we don't have that kind of money in the bank,” Collins said.
Collins reported the Innovation Park hangar is about 75 percent structurally complete.
“We're pleased how it came together this fast,” Collins reported. “What a difference 30 days makes. We've got a building down there now. By Oct. 15 essentially the whole project will be finished, which is amazing.”
Collins said Sept. 3 will be the start date for the ramp portion of the project.
The Authority approved two change orders in conjunction with the project — a $650 expense to remove an old gas line that served the previous building; and $14,000 to relocate a transformer/junction box.
Collins announced the Midwest LSA Expo, scheduled Sept. 3-5 is shaping up to be “one of the best we've ever had.” This will be the fifth year for the event in Mt. Vernon with free admission.
“All of the LSA companies we had last year are coming back, and hopefully, we'll be blessed with good weather,” Collins said.