Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board pauses decision on Clay Lacy's proposed $120M tax-exempt financing for John Wayne Airport facilities
Summary
After hours of questioning about liens, indemnities and parity among fixed-base operators, the board continued Clay Lacy Aviation's request to issue tax-exempt bonds via CMFA for up to $120 million in airport improvements to Aug. 12, 2025, and asked staff for documentation of financial backing and how assets and liens would be managed.
The Orange County Board of Supervisors on June 24 continued for further review a request from Clay Lacy Aviation to approve tax-exempt bond financing through the California Municipal Finance Authority (CMFA) to fund up to $120 million in improvements at John Wayne Airport, including a terminal and hangars.
Airport staff said Clay Lacy approached the county roughly 16 months ago seeking this bond structure as a response to rising construction and financing costs and that the financing plan could allow the project to proceed at lower implied interest rates. Deputy county counsel explained the hearing was necessary because issuance of tax-exempt bonds…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
