Page 415 - City of Arlington FY19 Adopted Operating Budget

Financial/Economic Development

Goal 2: Seek New or Alternative Funding Sources
Objective 1: Organize to Improve Cost Recovery and Enhance Funding
Project Performance Measure(s) City Service Team (Department)
Core Hangar Area Redevelopment Aviation Cost Recovery Economic Development and
FED Capital Investment (Aviation)
2.1.1
Summary: Update:

Two of the City’s T‐hangars were demolished due to the Harrison has completed the engineering study of the
condition of the buildings, resulting in a loss of rental drainage in the hangar area and has requested to move
revenue. The Airport Development Plan calls for this forward with the lease agreement. Negotiations are almost
area to be converted to uses such as Executive Hangars, complete. A bid package for the site preparation has been
st
Aircraft Maintenance, etc. Negotiations are underway issued, and bids are due on November 1 . Once these items
with a developer to lease the land, to minimize the loss are completed, a briefing will be scheduled to present the
of revenue. terms of the agreement with the Economic Development
Committee, likely in December.

Hangar Area Redevelopment

Demolition of Hangars

Determination of Lease Area

Lease Negotiations
Incentive Negotiations

Lease Consideration/Execution

Pre‐submittal Meeting
Construction Begins

10/16 1/17 4/17 7/17 10/17 1/18

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