Friday, April 18, 2003
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Friday, April 18, 2003 |
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Authority seeking flat rate for hangar rental space By MICHAEL
BOYLAN
Those who lease aircraft hangars in Hangar Area A at Falcon Field Airport will have the option to amend a part of their current lease agreement eventually. Members of the Airport Authority discussed a plan Wednesday night that would establish a flat rate for the monthly rental payments on those hangars. The details are not yet finalized, however. Currently, hangar owners pay fees based on two percent of the gross revenues they generate. Airport Manager Jim Savage suggested that operators of executive storage hangars would pay a flat fee of four cents a square foot of hangar space, while operators of general aviation hangars would pay eight cents a square foot. Authority member Matt Davis would like to set a flat rate as well but that rate would include the space outside of that hangar as well. "Our commodity is land," said Davis to several hangar owners in attendance. "Your derived income is from having a hangar on that land." Hangar owners in attendance were fine with both proposals. Most owners would end up paying less under either of the new proposals and those paying more would only pay a minimal amount more. The authority tabled the issue until the next meeting when a rate would be determined.
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