TERRE HAUTE — The Terre Haute International Airport board of directors officially accepted an insurance settlement Wednesday evening related to storm damage there in 2006.
At their regular business meeting, board members voted unanimously to accept a $1.5 million offer from Federal Insurance Co. as the finale to a three-year disagreement over $2.5 million in storm damage done to the former campus buildings there then leased by Ivy Tech Community College. The college’s insurance company previously issued a check for $1.076 million, inducing the airport to sue for the balance.
Board attorney Scott Craig told the board that the settlement required their approval to release all parties for the damage.
n In other business, airport director Dennis Wiss said the organization is considering hosting a number of smaller open houses as opposed “to a full-blown air show” in the coming year. The smaller, one-day open houses are intended to increase public awareness and involvement in the facility while helping keep costs low, he said.
Wiss said after the meeting that the organization is continuing its efforts to sell its Fixed Base Operator, which includes the fuel service center and flying school used by Indiana State University.
“We’re getting close,” he said regarding an agreement with a local, potential buyer of the FBO. Multiple issues are still being negotiated, but Wiss said he hopes to complete the transaction soon. “We don’t have one,” he said of a target date for the sale.
Local & Bistate
Terre Haute airport board accepts settlement for 2006 storm damage
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