Airport seeks $2.8 million for emergency employee housing purchase; finance committee approves transfer request

The Nantucket County Finance Committee unanimously recommended funding up to $2.8 million from airport retained earnings to allow the airport to acquire property for employee housing, the airport’s management told the committee Monday.

Art (airport official) explained the airport’s immediate need after hiring a new airport manager who relocated from Arizona: “We have him in a short term lease, which is going to run out in June. We've been searching for a rental since before the beginning of the year, year round rental, and have been unsuccessful.” He said the airport hoped to purchase a house to provide near-term stability for the manager and family and that the property would be owned and controlled by the airport.

“[It] would become an airport asset,” Art said, describing a rental contract in which an employee would pay a fixed monthly rent and utilities would be the occupant’s responsibility. He added that the arrangement was developed in consultation with human resources and would include W-2 reporting for any delta from fair market value.

Finance Director Brian Turbot presented the transfer request. He said airport retained earnings would also be used to fund other airport capital needs previously authorized, including construction of an employee dormitory and various equipment projects; in those cases the airport intends to rescind matching borrowing authorizations where retained earnings will cover costs.

Peter asked whether the airport manager would have a right to buy the property; Art said there would be no purchase right and that the airport intended the home to be available for current and future airport employees.

The committee approved the transfer on a unanimous roll-call vote. The airport said payroll payouts and accrued-time obligations tied to recent departures would also be covered by separate transfers into its salary lines.