Virginia Tech Montgomery Executive Airport gets $1 million grant
The Virginia Tech Montgomery Executive Airport has been awarded approximately $1 million in more federal funding as part of a plan tied to the ongoing runway expansion.
The funding, awarded through a program under the Federal Aviation Administration, was announced this past week by the offices of U.S. Sens. Mark Warner and Tim Kaine.
The funding is the first of four reimbursements to Virginia Tech, which previously owned the land being used for the runway expansion, said Michael St. Jean, the airport’s executive director.
The airport’s authority acquired the land about six years ago via a grant anticipation note, or basically an IOU, St. Jean said. The land cost $9.4 million, which will be paid off over the next few years, he said.
The airport authority is a standalone government entity that includes representation from Tech, Montgomery County, Blacksburg and Christiansburg.
To learn more about this grant, check out the whole article below.