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Lynchburg staff correct airport lease dates and warn parking rate cuts could erase surplus

City of Lynchburg Finance Committee and City Council (work session) · January 29, 2026

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Summary

City staff brought a corrected lease resolution for Lynchburg Regional Airport and discussed parking operations and revenue as a local match source for airfield projects. Director Cedric Simon said a $1-per-night parking cut would reduce airport revenue by roughly $76,000'$78,000, potentially eliminating a narrow projected FY26 surplus.

Cedric Simon, airport director, told the finance committee that corrected resolutions for leases with Freedom Aviation and Davis Air change a published lease end date from 2030 to 2031 and will be taken to tonight's full council meeting for final action. "There was a mistake in the resolution as it went out," Simon said, and the packet before the committee contains the corrected date.

Simon then briefed councilors on parking operations at Lynchburg Regional Airport. He said the airport uses Reimagine Parking for daily management and that parking is categorized as non-aeronautical revenue used for operating costs and capital match. "These revenues are used for airport operating costs," he said. For fiscal year 2026, Simon said he projects parking revenues of $585,000.

Council members asked whether parking rates make travelers choose neighboring airports once new United service arrives. Simon noted the airport is "the lowest in the region" for comparable products and that air service and load factors matter more than parking for most travelers. He gave a sensitivity estimate: "A $1 change equals out to a change of $76,000 on my budget," later saying it could be about $78,000.

Several councilors suggested targeted strategies rather than a across-the-board cut: temporary economy spaces, business-member pricing for frequent flyers and data-gathering such as passenger surveys once United service is operating. Simon said his year-to-date projected surplus is narrow (a projected surplus of about $48,000 in a quarterly projection and a FY26 operating surplus projection of $41,589 in a later presentation) and that losing $76,000 could flip the fund to a deficit.

Councilor discussion emphasized waiting for United'related travel data before changing rates. "I think it would be important to get some of the United data and see how those flights actually impact the parking revenue," one member said.

What happens next: the corrected lease resolution will be forwarded to the full council meeting for a vote tonight; staff will monitor parking and revisit pricing after United'service data is available.