WATERLOO — It wasn’t a smooth landing, but plans for a new corporate aircraft hangar at the Waterloo Regional Airport won approval Monday.
City Council members voted unanimously to approve a site plan, 50-year land lease and property tax incentives for A-Line ALO’s planned 12,800-square-foot hanger southwest of the airport terminal.
The building, which will house private aircraft owned by local firms A-Line EDS and POS, had faced opposition from neighboring Livingston Aviation and Kingfisher Aviation due to its proximity to their hangars potentially creating congestion on the ramp.
Airport Director Keith Kaspari said A-Line ALO agreed at its own expense to move its building 180 feet away from the Kingfisher facility, which was 13 feet more separation than the original site plan.
But he said there was still some opposition to the location.
“I’ve had a lot of communication, some very, very colorful, opposing this project,” Kaspari said. “I’m certainly not recommending tonight that this project go to another community.
“I think it’s upon us to proceed with this project ASAP,” he added. “We are not only in compliance with the (Federal Aviation Administration) setback, we exceed it.”
The approved 40-year land lease calls for A-Line ALO to pay the city $4,375 annually to rent the ground, with the rent to be adjusted every five years based on the consumer price index. The lease also includes two five-year extensions.
A-Line ALO is building the hangar, which must have a minimum assessed value of $1.2 million, but will turn over ownership to the airport when the lease expires.
Council members, without discussion, also approved a development agreement granting the project 90 percent property tax rebates for the first five years, 85 percent tax rebates for the next five years, 80 percent tax rebates for years 11 through 15, and 50 percent tax rebates for years 16 through 20.