Community Aviation Revitalization Board (CARB) loan program

Find out how to apply to the Community Aviation Revitalization (CARB) loan program, which provides loans up to $750,000 at 2 percent interest to airports with less than 75,000 annual commercial enplanements, as reported to the Federal Aviation Administration (FAA).

CARB Loan Program

The Community Aviation Revitalization Board (CARB) loan program bill, SB 5031, was signed into law by the Governor on May 3, 2021 (effective June 30, 2021). The corresponding capital budget bill, SHB 1080, which provides an additional $5 million for the 2021-2023 biennium was signed into law by the Governor on May 18, 2021.

The revolving loan program is for revenue-producing capital projects to help public-use general aviation airports become more self-sustainable and less dependent on public funding. Eligible projects can include hangars, fueling facilities, business parks on airport property, paid parking facilities, passenger amenities and other revenue-generating or cost-cutting developments.

CARB background

The Community Aviation Revitalization loan program was initially established in 2019 and funded with $5 million.

Demand for the loans far exceeded the available funding. The popular pilot loan program received 26 applications totaling over $14.8 million in requests. Ultimately, $4,740,000 was awarded for 11 projects during the first two years. The loan program’s success helped assure passage of the bill, making the program permanent and securing additional funding.

The program funds will be distributed with the guidance of the eight member CARB Board consisting of a representative from WSDOT Aviation Division, the Public Works Board (PWB), and a non-legislative member of the Community Economic Revitalization Board (CERB). The Board also consists of the following members appointed by the Secretary of Transportation Roger Millar: one port official, one county official, one city official, one representative of the airport managers and one representative of the general aviation pilots organization of Washington state.

The program provides loans up to $750,000 at 2 percent interest to airports with less than 75,000 annual commercial enplanements, as reported to the Federal Aviation Administration (FAA). Loans can have a maximum 20 year loan period and recipients can opt to have up to a 3 year loan repayment grace period. Loan recipients must commit to provide public access to the airport for a period of time equivalent to one and one-half times the length of the loan.

The next request for loan applications will occur July 2021 (application deadline TBD). Expectations are for the Board to select projects for funding sometime during Fall 2021.

Application (PDF 371KB)

 

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41 Pre-existing Funds Projects Advertised

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