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Council amends Aerospace Incentive Program to add phased funding and lease option
Summary
Council approved amendments that add two-phase funding tied to development milestones and a lease incentive option guaranteeing minimum five-year leases and 50 jobs for lease projects, intended to make the Palmdale Aerospace Incentive Program more competitive.
The Palmdale City Council unanimously approved amendments to the Palmdale Aerospace Incentive Program on Jan. 6 that split incentive payouts into two phases tied to development milestones and add a lease incentive option designed to attract tenants for vacant industrial space.
Megan Taggart, the city's director of economic and…
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