Airport(s):
Phoenix Sky Harbor International Airport (PHX)
Abstract:
The City did not need to renegotiate its leases for aeronautical uses to reflect the fair market value of the lease. (pp. 1-2).|The City needed to renegotiate leases for non-aeronautical uses that were not appropriately leased at market value. (p. 2).|The City did not need to reimburse the airport fund for rental payments transferred to airport-related job programs but did need to reimburse the airport fund for lost or imputed rent that may have been diverted to non-airport related job programs that did not benefit the Airport. (p. 2).|An airline's maintenance facility and its support facilities, such as parking, qualify as aeronautical uses. (p. 2).
Index Terms:
Aeronautical activity|Market value|Land lease|Airport Revenues (Grant Assurance 25)|Revenue diversion|Fee and Rental Structure (Grant Assurance 24)