City of Columbus Council Agenda April 15, 2025
City Approves $275K Airport Land Financing Agreement
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Description
The City of Columbus approved a deposit agreement with the Golden Triangle Regional Airport Authority to provide $275,000 representing their share in financing 109 acres adjacent to the airport, managed by BankFirst Financial Services over a 10-year payback. Funds generate interest until utilized for the land purchase; if unused, the balance and interest return to the City.
Contract Details
Contract Amount
$275,000
Vendor
GOLDEN TRIANGLE REGIONAL AIRPORT AUTHORITY
Agency
City of Columbus, MS
Contract Type
FINANCIAL_SERVICES
Document Date
April 15, 2025
Contract Term
10-year payback period, deposit agreement dated March 31, 2025
Renewal Date
2035-03-31
Renewal Info
Funds remain deposited until property purchase; all excess and interest to be returned to City if deal fails. No automatic renewal, but subject to purchase completion timing.
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