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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 amount of the property and that future rent may adjust if city property taxes increase.
Staff told the council the parcel represents the remaining available land in the industrial park after the prior Anadarko lease ended. The prospective lessee, described in the briefing as the entity that currently rents Hangar 2, intends to retain its existing hangar and expand operations on the newly leased acreage.
Council members asked whether the property would later generate tax revenue. Staff responded that when the tenant builds a new building that structure would become taxable. Council also asked whether the tenant would vacate Hangar 2; staff said the tenant plans to retain Hangar 2 and expand rather than move out.
A motion to approve Resolution 2021‑15 was moved, seconded and carried unanimously. The council did not provide additional public conditions in the meeting record; staff indicated they will finalize lease documents consistent with the terms presented.
The vote was recorded as unanimous among the members present; the council then continued to other agenda items.
