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Airport board approves Comlux hangar lease, foreign-trade zone sponsorship for GE and takes procedural actions
Summary
At its meeting the board approved a three-year lease with Comlux Realty for IMC Hangar 1B, approved a grantee-sponsorship letter for GE Aerospace's Lafayette foreign-trade zone application, approved minutes of a prior meeting and introduced the 2026 budget ordinance for later consideration.
The Indianapolis Airport Authority board approved several routine and commercial items during its meeting, including a short-term lease for IMC Hangar 1B, a grantee-sponsorship letter for GE Aerospace's foreign-trade zone application in Lafayette, approval of prior meeting minutes and the introduction of the 2026 budget ordinance for later presentation.
Comlux Realty LLC
The board approved a three-year lease with Comlux Realty LLC for IMC Hangar 1B covering Sept. 1, 2025, through Aug. 31, 2028. The lease covers 55,120 square feet at an annual rental of $661,440 ($12 per square foot). Staff estimated infrastructure and basic utilities costs at about $130,000 per year, leaving a net estimated income of about $530,000 per year under the short-term lease. The presenter said Comlux, an aircraft completion and service center that has been a partner at the airport since 2009, sought space because its east-side wide-body hangar is full and it will begin deliveries in September. The motion to approve the lease passed by roll call.
Foreign-trade zone sponsorship for GE Aerospace
The board approved issuance of a grantee-sponsorship letter to facilitate GE Aerospace's access to the federal foreign-trade zone program for a facility in Lafayette. Staff said the Lafayette facility consists of two buildings totaling over 240,000 square feet on an approximately 50-acre campus, employs about 200 GE staff and 100 contractors, and has an annual payroll in excess of $29,000,000. Under the authority's fee schedule, the grantee fees would be $3,500 per month ($42,000 annually). The motion to approve the sponsorship letter and related agreement passed by roll call.
Procedural items
The board approved the minutes from the May 16, 2025 meeting by voice/roll-call vote. Staff also introduced the 2026 budget ordinance as an introductory item; staff said that presentation will occur next month and final approval is scheduled for the August meeting. No final action was taken on the budget ordinance at this meeting.
Staff reports and other business
Staff recognized quarterly core-value award winners and noted recent activity at the airport, including the groundbreaking for the Indianapolis Airport Westin Hotel. The authority also introduced a short reuse study of the IMC (the International Maintenance Center) to examine potential longer-term reuse options for that facility; staff said that review is ongoing.
