by Lance Turner
Posted 8/6/2013 10:22 am
Updated 12 months ago
The Little Rock City Board is scheduled to vote tonight authorize $60 million in bonds for Dassault Falcon Jet's expansion at the Bill and Hillary Clinton National Airport.
The expansion was announced with great fanfare in May. The French private jet company plans to invest $60 million over the next three years in refurbishment and new construction at its finishing plant operations at Adams Field, expanding its footprint there by 250,000-SF to 1.25 million SF.
The company, which installs avionics equipment and custom interiors in the private jets it makes elsewhere, has said site preparation will begin in early 2014 and construction will take place through early 2016.
In July, Luke Jones explored how state and city leaders worked with the company on the expansion plans. Tonight's vote is the latest phase in that plan, and will allow the city to issue the bonds, which can only be used to fund new construction, in increments. Little Rock City Board member Lance Hines told THV 11 News that tonight's vote shouldn't have any opposition:
"There's no city money or funds. We're simply the issuing authority to allow Dassault to access that municipal bond market," he told THV 11's Kevin Trager.
You can see Trager's complete report on the vote right here: