Iowa City Airport Commission OKs lease amendment, hangar door replacement with Jet Air

The Iowa City Airport Commission approved a resolution to amend a corporate hangar lease and extend a ground lease with Jet Air, Inc., allowing the company to replace a bifold hangar door with a hydraulic door and extending its ground lease term.

Unidentified Speaker 2 opened a public hearing and described the project as a conversion "from that ... to a hydraulic door," saying Jet Air will pay for the replacement. The speaker added the amendment will extend the tenant's ground lease by 20 years, "so it turns into, ultimately, a 50 year ground lease," and that "it doesn't change any of the upfront rental structure," meaning current rent levels remain in place.

Unidentified Speaker 1 read the resolution titled: "Resolution approving amendments to corporate hangar lease, Hanger M, and Iowa City Municipal Airport ground lease Hanger N dated 08/16/2016 between Iowa City Airport Commission and Jet Air, Inc." The motion was seconded by Unidentified Speaker 2 and a roll call produced several "Aye" responses; the transcript records no opposed votes.

The amendment includes the hangar door replacement paid by Jet Air and a long-term extension of the ground lease; the commission recorded the motion, second and a roll-call vote that approved the resolution. The resolution does not change the existing rent structure, according to remarks recorded during the meeting.

The commission did not record additional public comment on the item in the transcript, and no changes to rent or other upfront charges were mentioned during the discussion. The meeting set the next regular session for Dec. 11 before adjourning.