If you own a hangar and/or operate a business at the Bend Municipal Airport, the value and ownership your hangar may be in jeopardy.
We have been receiving reports from tenants and businesses that the city has recently changed its practice with regard to ground lease renewals and extensions. Specifically, recent inquiries to the city in regard to the sale of hangars tell us that the city is not currently renewing terms on existing leases when those properties are sold, or renewing leases when they expire. What that means to you is that your lease term, and perhaps more significantly – your ownership of YOUR improvements may be shorter than you think.
Very costly capital improvements are planned for the airport – with an air traffic control tower – being constructed soon. We believe a portion of the cost of operating and maintaining that tower will be the responsibility of the city, and that will be a new element added to the airport operating budget – soon. There are also many millions needed for scheduled airport maintenance and upgrades in the next few years.
The Bend Municipal Airport is a special place and a major economic driver for the community. We believe that there is a path forward that can be a win-win with participation and collaboration between the city and airport stakeholders.
This roundtable discussion is for all tenants, business operators and hangar owners to come together to hear from hangar owners, sellers and buyers that have recently met with City staff in regard to hangar ownership. They will tell you that the City is presently “On hold” with regard to new leases and extensions.
If you have questions, would like to comment, or would like to get involved, this is your opportunity.
Meeting Date & Time: Tuesday, October 17th 5:30-6:30PM
Meeting Location: The Historic Red Hangar: Specialized Aero Works 63120 Powell Butte Hwy.