BENTONVILLE -- The manager of the Bentonville Municipal Airport says the standardized 45-year lease for developers essentially short-sells the airport's real estate value for the city.
The length of the lease should depend on the amount of infrastructure the developer is going to build for the airport, Chuck Chadwick told the Airport Advisory Board and city staff members Jan. 4. Any improvements, including buildings, made on city property become the airport's after the lease ends.
Most developments at the airport are hangars, but they could also be commercial buildings or self-fueling stations. Developers build projects they own on airport land leased from the city.
