Red Deer Airport was loaned $240,000 for a new office building by Red Deer County.
Council unanimously approved the loan to be paid back over 10 years at 2.5 per cent interest Tuesday.
Airport administration needs new space because Tucana Aviation Services Ltd. will be taking over the terminal building as part of a deal to operate the airport.
Tucana, which is already selling fuel, will soon offer maintenance, catering, transportation and accommodation services in a partnership to become a fixed-base operator beginning next month.
Construction on a $115,000 facelift for the terminal, including a private waiting area for pilots, has been completed.
County Mayor Jim Wood welcomed the new developments at the airport, and he is looking forward to the future there.
Coun. Philip Massier also liked the loan deal, which will see the county making money.
“I think this is wonderful. We’re not giving the airport some money. We’re lending the airport money at 2.5 per cent.”
Airport CEO Graham Ingham was pleased with the latest show of confidence from the county in the airport’s plans.
“It’s fantastic. Both the city and the county have been extremely supportive,” he said Tuesday morning.
“We’re very excited about where we’re at and where we’re going with the airport. This amount of support makes our job of growing the airport … and the surrounding community that much easier.”