Homeowners snapping up federal flood insurance after ’05 storms
January 9, 2007Curfews of six Lafourche Parish bridges changed
January 11, 2007
The State Bond Commission approved over $960 million for south Louisiana projects; $8 million will be designated to one of Houma’s thriving transportation hubs.
Although passenger aircraft compatibility is not in the plans for the Houma-Terrebonne Airport, the commission has plenty of areas to expand and will apply the recently approved bond for continued growth.
“We have got a lot going on out there,” said chairman of the airport commission Jeff Teuton, on the amount of growth the airport and industrial park has undergone post-Hurricane Katrina.
In mid-December, Teuton addressed the Terrebonne Parish Council during a regular meeting requesting approval to apply for the bond. The commission is an entity of its own, but because the commission was created and appointed by the parish government, it had to make a request.
With approval for the bond from both the parish council and now, the state, the commission is waiting on paperwork and Teuton expects the money will be awarded shortly after it is completed.
“We’ve got projects already under way. We will use the bond money to reimburse our capital funds and use the rest to get started on projects on the table with private companies,” said Teuton.
Just before Katrina, the airport completed a major runway project, depleting $12 million of the commission’s own resources. The airport receives no tax money from local or state governments and continues to be self-sufficient, occasionally receiving grants from the FAA.
“In order to continue receiving federal awards, which we rely on, we must meet certain requirements. What we try to do is stay abreast of the latest requirements so we can continue receiving that funding and stay ahead of the game,” said Teuton.
Current projects include an Automated Weather Observation System (AWOS) n which would allow pilots to land when the tower is closed n FAA mandated security lighting and repaving along taxiways, and completion of a new building which houses airport offices.
Those projects will cash-out close to $3.5 million of the bond issue. After financing, a total of $2 million plus the surplus amount will be designated for commitments to industrial park tenants. The commission wants to work with local or national companies to finance structures on the airbase, attracting additional business.
“This would bring additional jobs to the area which means additional growth to the local economy. This is our chance to provide for the parish,” said Teuton.
Businesses like PHI Oil & Gas, SEACOR Marine and British Petroleum have already committed to grow their business at the HTA by building new facilities, providing additional parking space and flying additional people out of Terrebonne.
BP already flies 10,000 workers to the Gulf industries a month and with a $12 million facility in the works, plans to house additional aircraft. PHI will lay cement for a 1,500-car lot, preparing for an upsurge in people flying out from the base.
“By bonding out some additional money, we can attract businesses to the base by financing some of these projects at a low rate. It’s good for the airport and good for the parish.”
Teuton said without offering low financing, in the past some companies may look over HTA because of a six percent federal tax on leased property. Many local competing airports did not have a federal tax.
“With most of those airports wiped-out from the storms, companies are seriously looking at Houma as a secure place to build. We want to add another incentive, to have them come and stay,” Teuton said.
Andrea Carlson can be reached at andrea@tri-parishtimes.com.
