We have 5yr adjustments (on hangars); I expect them to still be implemented when we come upon that period.
Our farm ground rates are adjusted annually, based upon Purdue’s annual farm ground property assessment, to which our local farmers bid and pay based on a percentage; last farm lease is 5 years.
Hope that helps!
Travis McQueen – Manager
Huntingburg Airport – KHNB
We are conducting a survey of airports regarding the impact of the economy on lease rates. The question is as follows: If you had a scheduled lease rate adjustment in either 2009 or 2010 within an existing lease at your airport, did you follow through on the adjustment? If not, was the scheduled adjustment deferred for a period of time, or just skipped until the next scheduled adjustment?
Thanks for your assistance.