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Shelbyville staff previews 30-year land lease, lower insurance for private airport hangar
Summary
City staff told the Shelbyville mayor and council that an individual has requested the city's standard 30-year lease for a 60-by-60 private hangar at Shelbyville Municipal Airport, with a proposed reduction in minimum liability insurance from $2 million to $1 million and a recommended rent of $0.35 per square foot.
City staff and the airport authority described a proposed land lease for a private hangar at Shelbyville Municipal Airport during the study session.
Paul Perry, the city's director of the airport, told councilmembers the proposal is for a private individual to build a 60-by-60 hangar and that the airport authority is recommending the city adopt its standard 30-year lease. Perry said the lease would include a reversion clause so that after 30 years the hangar would revert to city ownership and the city would hold first right of refusal if…
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