Friday, February 15, 2002
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Friday, February 15, 2002 |
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Falcon Field has 90-day deal for leases at new commercial hangar area By JOHN
MUNFORD A temporary incentive to kick start development at the new commercial hangar area at Falcon Field may well do that before the project's even complete. Leo Giles placed a deposit on one of the six spots at the airport's Hangar Area B Wednesday night after the Peachtree City Airport Authority approved the offer of the incentive for 90 days. The incentive is a five-month grace period between the time the site is ready to be built on and the time the authority starts deducting monthly payments from the deposit placed on the site. The authority requires that a year's worth of rent be deposited to reserve any of its hangar areas. The grace period for the commercial sites will help give the developer time to get all the necessary permits in hand from the FAA and other agencies such as the city fire department. The individual developer is in charge of constructing hangar and/or building improvements for the site. The authority is responsible for providing the concrete pad for the site and the taxiway and road system for access. The project is supposed to be completed by March 6, but there are worries that the contractor will not finish on time. If so, the authority can assess liquidated damages of $750 a day. Giles is part of a company called Air Patch Inc.,, which authority member Jerry Cobb is also a principal of. Cobb announced this at the outset of the discussion and stated he would not discuss or vote on the matter; he also offered to leave the room to make the authority feel more comfortable, but that offer was declined after no one in the audience protested either. Giles plans to build a 10,000-square-foot facility with 2.000 square feet of office space. He said he currently doesn't have a tenant for the building but he's actively seeking one. The motion to offer the lease incentive for 90 days passed 4-0, with Cobb abstaining and authority member Douglas Fisher voting by telephone since he was out of town. Fisher participated in the entire meeting via teleconference.
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