City Council OKs funding for Columbia airport
Tuesday, September 18, 2012
The Jefferson City Council approved a $100,000 contribution to Columbia Regional Airport on Monday to help attract a new airline to the area.
The funds, considered to be a one-time expenditure, will be deposited to guarantee profits in exchange for a proposed new service at the airport. If the airline meets revenue expectations without the contributions, the money could be returned to all contributors.
Columbia Mayor Bob McDavid, who gave a presentation to the council Monday, said the airport is in negotiations with potential service provides and the revenue guarantee could last one or two years. He said the negotiations are ....