"Al" wrote in message
. ..
Our airport is opening up some new areas for hanger
construction. There is some concerns over the length of the new lease
terms and I was hoping to get the following from some of your airports:

1. Length of ground lease in year (20-30-40, more?)
99 years
2. Number of term renewals (one or two or more):
Not specified but with a term of 99 years it really is not a factor.
3 Length of renewal period (5 years, more)?
4. Lease rate per square foot for original lease term? For renewal terms?
Currently $.10 per square foot per year. Increases tied to inflation rate
or some other factor, can't remember exactly what determines the rate
increase.
5. Reversion clause at end of lease and renewal periods. (I'm not a
hanger owner, but apparently after these terms owenership of the hanger
reverts to the airport with no compensation to the owner? Is this
true? If so, why would anyone build a hanger and why would anyone buy a
hanger from someone without a long term remaining on the lease?)
Airport gets the land, hangar owner gets the building and must remove it if
the airport wants it removed.
6. Any other clauses?

I realize that these are a lot of questions. Hopefully some of you can
give me some insight.

Thanks.
- - -
Al Gilson
64 Skyhawk
SFF Spokane Wa