Thu, Mar 03, 2005
Could Mean Peace Of Mind After Hefty Investment
Congressman Steve Pearce (R-NM), introduced legislation Tuesday
that would guarantee long-term leases for individuals and
businesses wishing to build hangar facilities at an airport. The
bill would require a minimum lease of 75 years for those seeking to
build a hangar at an airport. The legislation would also require
the airport to compensate the lessee of a hangar in the event that
the airport’s development plan requires the hangar to be
destroyed or moved. Pearce introduced similar legislation in the
108th Congress.
"We are very pleased Congressman Pearce has decided to continue
the fight for fair leases for the users of America’s
airports," National Air Transportation Association (NATA) president
James K. Coyne stated. "With the increasing trend of publicly
supported airports seeking to provide aviation services at the
expense of private enterprise, Congressman Pearce’s
legislation provides an opportunity for businesses to operate in a
much more stable environment.
"The legislation also provides the incentive for aviation
businesses to improve service to their customers by upgrading their
facilities," Coyne explained. "Businesses will be able to make
capital enhancements to their facilities with the security that
they will have the ability to operate at the airport long enough to
see a return on their investment."
Congressman Pearce’s legislation has been referred to the
House Committee on Transportation and Infrastructure, where it
awaits consideration.
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