|HUD No. 18-054
HUD Public Affairs
July 13, 2018
HUD ANNOUNCES $2.5 MILLION SECTION 108 LOAN TO CITY OF PROVO
Loan will finance infrastructure improvements near the Provo Municipal Airport
PROVO - U.S. Housing and Urban Development (HUD) announced approval of a Section 108 guaranteed loan to the City of Provo to begin infrastructure improvements near the Provo Municipal Airport. These improvements will allow Duncan Aviation, which has a facility at the airport, to expand and provide an estimated 400 to 600 additional full-time equivalent jobs. Read more about HUD's Section 108 Loan Guarantee Program (https://www.hudexchange.info/programs/section-108/).
Specifically, the Section 108 guaranteed loan funds will be used to install water, sewer, and storm water lines. The project will include a half mile of road construction, a storm water system, two gravity mains, a sewer lift station and force main, 150 feet of sewer main and over a mile of 12-inch water line loop. These improvements will serve the property that Duncan Aviation occupies and another 50 acres adjacent to the airport which currently lack water and sewer services.
"The Section 108 Loan Guarantee Program is one of the most important public investment tools that HUD offers to state and local governments to create transformative impact in their communities," said HUD Rocky Mountain Deputy Regional Administrator Eric Cobb. "This investment will bring jobs, infrastructure improvements, and economic growth that will benefit the community of Provo for years to come."
The average wage for employees is expected to be between $28 and $30 an hour. Duncan has provided a detailed list of positions to be filled, and the City is finalizing a written agreement with Duncan concerning job creation and reporting requirements.
Duncan Aviation is one of the world's largest privately-owned, full-service maintenance providers for corporate- and private-jet aircraft. Duncan has facilities throughout the United States and has selected Provo Municipal Airport for its western hub expansion. Duncan plans to invest approximately $80 million to construct and outfit hangars as well as install paint booths, which are used for applying specialized coatings to aircraft components.
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Duncan Aviation Rendering