Title
Approval of hangar rate increase
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SUMMARY: The Airport Committee has completed a hangar rent study. Eighteen airports were contacted with in depth information obtained from 12 in addition to Crossville. Some major points included: There are no empty hangar spaces for general aviation, Crossville is priced well below market, Crossville’s lease is lacking in areas addressed by many other airports. They found that other airports did not charge a security deposit, key or cleaning fee.
Based on the information provided, the Committee recommends that rates on all the hangars except the $250 hangars be raised $15 a month each of the next three years. Since the $250 hangars were closer to market rate, the increase for those hangars was recommended $10 a month, each of the next three years.
The Committee further agreed that the Crossville Airport lease was lacking in many aspects. The FBO is going to obtain several other examples and additional recommendations will be made to the City Council following review and discussion of the best aspects of other leases.
The last rate increase was 09-01-2011.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Approve hangar rate increase as of September 1, 2021.