Airport Revitalization Revolving Loan Program
The Mississippi Airport Revitalization Revolving Loan Program (Airport Loan Program), administered by the Mississippi Development Authority (MDA), is designed for making loans to airport authorities (Local Sponsors) for the construction and/or the improvement of airport facilities located in the state of Mississippi (the State). Funding for loans is derived from the issuance of State bonds or notes.
Eligibility
Local Sponsors considered to be eligible applicants are county and municipal airports authorized to operate in the State.
Eligible Projects
Projects eligible for assistance must be directly related to the airport facility and are limited to construction, expansion, improvements, rehabilitation, or repair of airport facility. Examples of projects may include:
- Drainage systems
- Energy facilities (power generation and distribution)
- Sewer systems (pipe treatment)
- Transportation facilities directly affecting the site, including roads, sidewalks, bridges, rail lines, rivers, pipelines, or runways
- Buildings
- Water supply systems (storage, treatment, and distribution)
- Equipment necessary for airport operation
- Land improvements
Terms: Up to ten (10) years
Amount: Maximum Loan $750,000 For Any One Project
Rate: 3% per annum
How To Apply For Program
In order to obtain assistance under the Airport Loan Program, a Local Sponsor's governing authority (the Governing Authority) must submit an application to MDA. MDA will evaluate the application to determine if the project meets the program criteria.
Statute
The Airport Revitalization Loan Program is authorized under Section 57-61-41, MS Code, Annotated.
For more information:Financial Services Division
Telephone: 601.359.3552
Fax: 601.359.3619
financial@mississippi.org