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Lock Haven council approves 25-year lease for Piper Airport industrial park
Summary
The Lock Haven City Council approved Resolution 2021-15 to lease 13.88 acres at the Piper Airport industrial park to the current Hangar 2 tenant under a 25‑year initial lease with a base rent of $22,810 per year; council voted unanimously to approve the agreement.
The Lock Haven City Council on May 3 approved Resolution 2021‑15 to enter into a lease for 13.88 acres at the Piper Airport industrial park, staff said.
City staff described the agreement as a 25‑year initial lease with base rent of $22,810 per year. “The lease is in lieu of the tax,” staff said, explaining that the lease value is tied to the taxable…
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