Airport bond failure traced to weak economy

Print More

Officials at the Burlington International Airport say a plan for a $45 million parking garage expansion fell victim to the weak economy.

The airport had asked Burlington voters to support a plan to sell bonds for the project, but the vote was just short of the two-thirds support needed to approve it.

Airport director Brian Searles says the project needed a super majority to pass because the city of Burlington was, in effect, co-signing for the debt.

If Burlington International would have sought an airport revenue bond a simply majority would have been enough to pass the bond.

But Searles says there aren’t buyers for traditional airport bonds.

Airport planners will now consider other options to address the parking shortage at Vermont’s largest airport.


Comments are closed.