That is very true but a runway aligned RNAV approach to runway 32 will get you down to 737' agl.
The cost of installing an ILS is huge and the ongoing calibration checks are also costly. Better to cost shift to airlines who bear the cost of the holding diversions etc. That is business at work for you. That is why airports should be government owned infrastructure, like roads and ports.
If more work could be done to get the RNAV minima down to 450'agl as used at some airfields that would help. Is it survey or terrain issues?