Chesapeake council will vote tonight on airport authority debt

Posted to: Chesapeake News
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By Mike Saewitz
The Virginian-Pilot
© August 12, 2008

CHESAPEAKE

Facing costly legal and stormwater bills, the Chesapeake Airport Authority is asking the Chesapeake City Council to restructure its debt to the city.

Tonight, the council will vote on whether to give the authority more time to pay off more than $600,000 the city loaned.

The restructuring would cut the authority's annual payments from $54,467 to $22,930.

The deal comes after a 2007 circuit court ruling that would allow nearby homeowners to seek compensation for property "damaged" by air traffic.

The authority has appealed the decision.

For updates on this story, see PilotOnline.com and The Virginian-Pilot on Wednesday.

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Let outside vendor In

Submitted by megaman on Tue, 08/12/2008 at 12:26 pm.

This airport has cost Chesapeake taxpayers a substantial amount of money. This airport caters to a few elitists only. Lease this airport to an outside vendor, let them run it for a profit and make lease payments to the city. How much longer are taxpayers going to have to foot the bill for an establishment that operates in the red and serves a minimal purpose to the majority of citizens.