(a) In 2006 there are three (3) T-Hangar buildings housing twenty eight (28) individual T-Hangar units. Two buildings house twenty (10 each) single-engine aircraft units and one building houses eight (8) twin-engine aircraft units.
(b) The T-Hangars are owned and operated by the City of Bellefontaine. The Airport Manager shows the units to potential lessees and maintains the common areas as part of his regular duties, but does not share in any rental revenue derived therefrom.
(c) T-Hangar rental fees were first established in 2002 for the single-engine aircraft units. In July, 2006 fees were adjusted for inflation based upon the Midwest Consumer Price Index. Also, fees were established at that time for the twin-engine aircraft units.
(d) It is recommended that the T-Hangar Rental Fees be examined every three to five years for warranted increases based upon the Midwest Consumer Price Index for all categories.
(e) Future T-Hangar development is illustrated in Exhibit B and discussed in the Airport Master Plan.
(f) A model T-Hangar Rental Agreement is attached.
(Ord. 07-01. Passed 2-15-07.)