The Herald Banner, Greenville, TX

Local News

October 6, 2013

Council could vote on L-3 lease

GREENVILLE — The Greenville City Council could vote Tuesday to approve a new lease with L-3 Communications Integrated Systems concerning Majors Field Municipal Airport.

The lease agreement also includes a maintenance and operations agreement, under which L-3 would take over most of the operations at the airport.

The council is scheduled to consider approving the lease as part of Tuesday’s regular session agenda, starting at 6 p.m. in the Municipal Building, 2821 Washington Street. A work session is also scheduled for 5 p.m. Tuesday.

L-3 Communications would pay millions of dollars per year to lease property at Majors Field, under the proposed 30 year lease agreement with the city.

The funds from the lease would be directed back to keeping the airport as a self-sustaining facility.

In turn, the defense contractor would take over almost all of the operations at the airport, including the city’s terminal building. L-3 may be planning a significant expansion at Majors Field, and would be allowed to establish an alternative permitting process for new structures at the facility, bringing in more revenue which would be directed toward the city’s general fund.

Currently, L-3 is paying $72,500 per year for its lease of 610 acres at the airport, under an agreement reached in 1977, which expires in 2017.

Under the agreement, L-3 would be paying a total of a little more than $3 million per year to lease almost 708 acres at the airport, with the initial lease running to Sept. 30, 2016. The primary lease would take effect the next day and run for 15 years, followed by three five-year options.

The amount of the lease would gradually increase from $3 million to just over $5 million per year during the length of the agreement.

The company would take over most of the fixed base operations at the airport and in return would receive a credit on their rental agreement. The city would still see a net of almost $26 million dollars over the length of the lease.

Under the agreement, L-3 would hire a full time employee with security clearance who would be responsible for handling all of the permits associated with future building expansions at the airport, rather than seeking permits through the city directly. In exchange, the company would pay the city $500,000 per year, money which would not be tied to the airport, resulting in approximately $15.5 million in revenue over the length of the agreement.

1
Text Only
Local News
Featured Ads
Photos


See more photos and purchase prints here.

Poll

Does Dallas head coach Jason Garrett need for the Cowboys to make the playoffs during the 2014 football season to keep his job?

Yes
No
Who knows with Jerry Jones as owner?
     View Results
Facebook
AP Video
Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN Raw: Deadly Landslide Hits Indian Village Obama Chides House GOP for Pursuing Lawsuit New Bill Aims to Curb Sexual Assault on Campus Russia Counts Cost of New US, EU Sanctions 3Doodler Bring 3-D Printing to Your Hand Six PA Cops Indicted for Robbing Drug Dealers Britain Testing Driverless Cars on Roadways Raw: Thousands Flocking to German Crop Circle At Least 20 Chikungunya Cases in New Jersey Raw: Obama Eats Ribs in Kansas City In Virginia, the Rise of a New Space Coast Raw: Otters Enjoy Water Slides at Japan Zoo NCAA Settles Head-injury Suit, Will Change Rules Raw: Amphibious Landing Practice in Hawaii
Must Read
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Reader's Choice