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Council approves another short extension to Vector Air lease while sale talks continue
Summary
Council approved a three‑month extension allowing Vector Air Management LLC to continue leasing the terminal and hangar while town staff and the operator negotiate terms for a potential sale and long‑term fixed‑base operator arrangement.
The council approved a fifth short extension of the lease with Vector Air Management LLC on March 11 so the operator can continue fixed‑base operator services at the Erie terminal and hangar while staff and Vector negotiate a potential sale of the terminal building and a longer‑term agreement. Utilities Director Todd Fessenden said the terminal building is in poor condition (appraised with negative value) and Vector proposed to make needed improvements as part of a purchase, which staff is still negotiating; the three‑month renewal keeps operations stable while talks continue.
Fessenden told council the town and Vector have worked through consultant and airport‑counsel reviews; the amendment simply extends the existing lease to avoid service interruption while Vector finalizes cost estimates for upgrades. Council noted this would be the fifth short extension; staff said they hope it will be the last. One council member voted no, citing a desire to resolve the long‑term arrangement rather than continue serial short renewals, but the resolution passed.
Next steps: staff will continue negotiations and return to council when a long‑term agreement or sale is ready for executive‑session review and public consideration.
