Chattanooga's airport plans to take on its biggest loan to finance more parking to accommodate the growth of Lovell Field.
The Chattanooga Metropolitan Authority board voted Monday to borrow $25 million over the next 20 years from Pinnacle Bank to finance the airport's first multi-story parking garage. Although the airport has yet to approve a specific design, airport authority president Terry Hart said he hopes to select the layout and contractor for the planned 1,300-space parking deck by December.
The parking garage will add a net 700 more spaces to the 2,100 parking spots now at airport lots and will provide closer parking to the airport terminal for more passengers. The four-level garage would go on what is now some of the short-term parking lot across from the existing rental car location, Hart said.