Tuesday, September 04, 2012

Riverton Regional (KRIW), Wyoming: Airport Hangar Leases up for approval by City Council tonight

Steve Pince stands next to the aircraft that he and Jim Hansen are partners in. The Christavia model home built experimental aircraft is housed in Pince’s 3,000 sq ft hangar in the General Aviation area of Riverton Regional Airport. 
Photo Credit:  Ernie Over

By Ernie Over, County10.com 

 (Riverton, Wyo.) – The Riverton City Council Tuesday night will be asked to approve an updated lease form for hangar leases at Riverton Regional Airport. The new form would provide uniformity among the leases, which now contain different terms and conditions, and hike the annual fee for the leases. According to City Public Works Director Bill Urbigkit, the recent adoption of the Airport Master Plan and comments received from current lease holders sparked the review.

The major changes to the current lease would lengthen the lease terms from five year terms with five successive renewals to 10 year leases with four successive renewals and the lease rate charged by the city is proposed to go up from the present 13¢ to a rate of 17¢ or 22¢ per square foot. Other new provisions include an annual adjustment to the lease based on the Consumer Price Index; requiring the lessee to maintain the property up to 10 feet around the perimeter of each hangar for weed and snow removal; and increasing required liability insurance limits based on actions by the State Legislature.

In a work session before the city council earlier this summer, Urbigkit said the city provides a $343,373 subsidy, costs over revenue, for airport operations. “We need to cut costs or increase revenue,” he said. “We’ve done everything we can on the expense side to hold operational expenses, and they’ve not gone up over the last 10 years, so we need to look at the enhancement side.”

Read more here:   http://county10.com

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