Federal Grant Award Summary

The Town of Princeton received a Project Grant award of $390,690.53 from the Federal Aviation Administration (FAA) under the Airport Infrastructure Grants program (CFDA 20.117) on May 6, 2026, with a completion date of May 5, 2030. This grant funds the final construction phase of a new 4,225 square-foot sponsor-owned aircraft storage hangar at Princeton Airport in Princeton, Maine. The hangar project is designed to enhance the airport's financial sustainability by generating revenue through aircraft storage services. This award was authorized under the expanded eligibility provisions of the Infrastructure Investment and Jobs Act and is paired with an additional Airport Improvement Program grant to fund remaining eligible project costs.

The hangar construction represents a strategic infrastructure investment that will improve airport operations and economic viability. As a recipient under the Airport Infrastructure Grants program, the Town of Princeton is required to maintain updated airport layout plans for the duration of the grant agreement, submit periodic progress reports documenting project milestones including bidding, contract awards, work commencement, and completion status, and retain accounting records for three years following submission of the final expenditure report. The project aligns with the FAA's emphasis on hangar construction for revenue generation as a key eligible activity under the federal grant program.