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Council approves 10-year hangar lease at Show Low Regional Airport for Arrow Products
Summary
The council unanimously authorized a 10-year commercial hangar lease and operating agreement for two hangar units at Show Low Regional Airport to Arrow Products Component Services Inc., with a monthly rent of $2,800 per unit and CPI-based annual increases.
The Show Low City Council unanimously approved a 10-year commercial hangar lease and operating agreement with Arrow Products Component Services Inc. for two hangar units at Show Low Regional Airport.
City staff told the council the city issued a request for proposals on Nov. 20, 2024, for Unit 23 of the city-owned commercial hangar at 3151 Airport Loop Road. Mr. Allen told council "the city received 2 proposals, both from Arrow Products Component Services Inc. ... There were no competing proposals." The lease terms include a per-unit rent of $2,800 per month plus tax, insurance and any applicable monthly user fees; Arrow Products will pay utility costs. The agreement carries an initial term through Jan. 7, 2035, with an option to renew for a single additional one-year period upon city approval and includes an annual consumer price index increase.
Councilman Judd moved to approve the agreement and authorize the mayor to sign; Councilman Whipple seconded. The motion passed unanimously.
Staff noted Arrow Products already occupies the two hangars and recently acquired a third, meaning the company will now lease the full city hangar inventory at that location. No council member requested changes to the lease terms at the meeting.
