(a) With the approval of the Secretary, the Administration may grant or lend money to:
(1) Any political subdivision or any authority created under State law to assist in the establishment or operation of an airport that is or is to be owned or controlled wholly or in part by the political subdivision or authority; or
(2) Any other person to assist in the establishment or operation of any privately owned airport made available for use by the public.
(b) When awarding loans and grants under this section, the Administration shall give priority to publicly owned airports.