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December 29, 2012

Clark airport ends 2012 in positive financial state

Property acquisitions continue

(Continued)

SELLERSBURG — Dreyer estate

Greg Fifer, who was acting as the board’s attorney Thursday night, provided an update to the ongoing legal dispute over the Dreyer estate.

He said the Clark County Commissioners had a fund set up a nonreverting fund to pay the settlement owed to the Dreyer family, borrowing $925,000; $910,000 of which was already deposited in a court escrow fund.

“That keeps us from having to worry about the property going away or being forfeited,” Fifer said.

Originally, a payment of $203,000 was made to the late Margaret Dreyer for her property at the end of the Clark Regional Airport in order to complete a proposed runway expansion. A subsequent legal challenge to the value of the property, and jury trial, set the value of Dreyer’s land at $865,000.

The county, which has appealed the decision claiming the Dreyer objection to the appraisal amount was not filed in a timely manner, owes the remaining $660,000, plus accruing interest to the estate.

Fifer said the amount owed, with penalties added, now totals about $870,000.

In addition to the nonreverting fund set up, he said the airport has been awarded a $166,000 grant which will go into that account once the funding has been received.

Following his update on the air board’s legal matters, Fifer was unanimously hired as the board’s new attorney.

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