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DEFINITIONS <br />Ground Leases <br />Improvements funded and built by a third party on airport property. In exchange for the investment, the <br />third party leases the ground from the City at a reduced rate for up to 40 years. At the end of the ground <br />lease, the improvements revert in ownership to the City who can then lease the improvements at <br />market rate via a Facility Lease. Ground leases and associated rates vary based on size of improvements, <br />intended use, length of lease, location, and need infrastructure. <br />Facility Leases <br />Improvements that were either built by the City or improvements that have reverted in ownership to <br />the City after a long-term ground lease. Improvements are generally stand-alone hangars and can vary <br />by square footage, door size, interior improvements, and location on the airfield. Leases are typically <br />under 10 years with pre -determined rate increases. <br />-------------- <br />T-Hangars <br />Enclosed hangars shaped like a "T"that are large enough to fit <br />one single airplane and are nested together under one roof. T - <br />Hangars are all identical in size and shape. <br />F -------- Y_ <br />T -Shelters <br />Shaped and nested like T -Hangars but are open-air like covered carports. T -Shelters are all identical in <br />size and shape. <br />-------------a <br />Storage Units <br />Open areas at each end of a row of T -Hangars not large enough <br />for aircraft storage and accessed by a regular door. <br />-------- Shared Hangar <br />Box sh <br />aped hangar that can fit more than one aircraft. Tenants have individual leases and are able to <br />move their aircraft without disturbing the other aircraft in the space. Hangars may vary based on size <br />and location on the airfield but are typically big enough to only fit two aircraft and have few if any <br />interior improvements. <br />