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A History of Austin's Newest General Aviation Airport
Page 176
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Chapter 10
perpetuity. Even after all of the department
approvals (though no actual permit), Andy
had spent weeks negotiating the language of
both agreements with the City's attorneys.
Of the two, the UDA was the more con-
tentious because the City wanted to use its
standard boilerplate contract while airports
are anything but standard. (I recall that one
of the clauses allowed the City to unilaterally
maintain and upgrade wetland areas at their
discretion, which could have the effect of in-
troducing aircraft and pilot hazards like birds.
A deal killer from our perspective.)
Now, we had yet another issue.
The City of Austin had long required that
we post a bond or issue a letter of credit in the
amount the City estimated it would cost to step
in, in the event we went belly up, and com-
plete the wetlands mitigation project, includ-
ing any environmental controls we planned to
put in place. The logic was that if we didn't fin-
ish the job, they would. We bickered over the
amount of the letter of credit and tentatively
agreed on $600,000. At the last minute, some
number-cruncher at the City recalculated the
figures and decided more was better. Get us
a new letter of credit or no permits. We finally
conceded to posting a $2.4 million letter of
2010. Early construction of the Henriksen Jet Center hangar with its vaulted and curved roof structure and
steel framing. Photo courtesy of David Hannah III.