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Tullahoma board preapproves UDAG loan option to help fund airport cleanup
Summary
The board voted to preapprove availability of a UDAG loan as a potential funding source for airport cleanup and infrastructure repairs; staff estimated cleanup at about $600,000 and emphasized the vote is only a preapproval—the Tullahoma Airport Authority must apply for the loan.
The Board of Mayor and Aldermen voted to preapprove a UDAG loan as a potential funding source to help cover cleanup and infrastructure repairs at the Tullahoma airport.
City staff described UDAG (Urban Development Action Grant) funds as an economic-development tool that city government can lend to the airport authority for cleanup, removal of blight and infrastructure improvements. A staff presentation said cleanup and repair costs…
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