AIRPORT BUDGET CLEARED FOR TAKEOFF.

Byline: Alex Dobuzinskis Staff Writer

BURBANK - The authority overseeing Bob Hope Airport unanimously approved a $74.3 million budget Monday that increases spending by $16.9 million and sets aside money to resurface the runways.

The budget for the fiscal year beginning July 1 also allows for borrowing $8 million, mainly to fund restructuring of a private parking lot acquired by the airport for its valet parking operation.

The budget represents a 30 percent increase over the current plan, fueled in part by anticipated growth in passenger traffic, including $2 million more in parking fees and $1.1 million more in passenger facility fees.

The $7 million project to resurface - required every decade or so to fix wear and tear - will begin in August and be done in November.

``We will work at night; it will not involve the closing of the runways,'' said authority President Charles Lombardo.

The Bob Hope Airport was allowed to buy the Star Park lot, adjacent to its own short-term parking structure, to use for valet parking. It will issue $8 million in bonds to fund restructuring the lot for that use, and will add two elevators on its short-term parking facility.

In addition to the bond money, the airport will use $2.1 million in reserve funds.

``We do have significant capital projects to undertake this year. And we're using our credit rating to be able to handle that in such a way that the debt service can be handled without increasing airline costs,'' airport spokesman Victor Gill said.

``We are mindful of the fact that (the airline industry is) in extreme disarray right now,'' Gill said. ``And so we're trying our best to undertake those improvements that we can afford without having to raise the airline costs of doing business.''

Alex Dobuzinskis, [phone]

alex.dobuzinskis(at)dailynews.com