LITH Village Board Votes to Lower Airport Hangar Rates

The Village Board OK'd lowering T-hangar rental rates at the  at a meeting on June 12. 

Village of Lake in the Hills staff recently proposed lowering the T-hangar rental rates from $378.59 to $290 with the hopes of filling vacant hangar spaces and boosting revenue brought in by the airport, according to village documents. 

Prior to the vote, there were 20 T-hangars for lease at the airport and 11 were vacant, according to village documents. 

The village recently adopted an incentive plan with hopes of drawing in tenants. Under the incentive plan, the village drew in one new tenant but recently lost an existing tenant, according to village documents. 

Filling three vacancies at the reduced rate could bring the village "to the break-even point," according to Village Board documents that indicate renting out more than three spaces would increase revenue.

The new rates took affect June 14 and would include new tenants and would apply to existing tenants when they renew their lease.