City approves 40-year airport lease for Executive Hangers of Lincoln

The City of Lincoln is set to enhance its airport facilities significantly after the City Council approved a ground lease agreement with Executive Hangers of Lincoln LLC, a veteran-owned company. This decision, made during the regular council meeting on March 12, 2025, marks a pivotal step in expanding the airport's hangar portfolio, which is expected to grow by approximately 30%.

The lease agreement is part of a broader initiative to improve airport operations and sustainability. Executive Hangers of Lincoln won a request for proposals issued in late 2023, which sought to develop privately owned aircraft hangars at the airport. The project will introduce 48 new T-hangars and 20 larger box hangars, addressing a long-standing need for additional space. Notably, the last significant hangar construction at the airport occurred over 30 years ago, making this development a groundbreaking moment for the community.

City officials emphasized the importance of this project in driving airport business. The strategy focuses on increasing fuel sales by boosting airport traffic and tenancy. The lease agreement, which spans 40 years with an automatic 10-year extension for tenants in good standing, is designed to generate revenue through ground lease payments and increased fuel sales as more aircraft occupy the airport.

The project has undergone extensive permitting processes with various regulatory bodies, including the FAA and local conservation programs. Construction is anticipated to begin this summer, with significant activity expected as groundwork and infrastructure are laid.

In summary, the approval of this lease agreement not only represents a significant investment in Lincoln's airport infrastructure but also aims to foster economic growth and enhance services for local pilots and the broader community. As the project progresses, it is expected to bring increased activity and opportunities to the airport, reinforcing its role as a vital asset for Lincoln.