Real Estate & Property Law

FAA Attacks Airport Lease

By Alan Ackerman

In the Youngstown Vindy.com article, writer, Ed Runyan, covers the issue of how to deal with a below market lease between the airport and a user.

The airport may find itself in shock when it determines how important and how valuable a cross dock availability is on a property it may decide to condemn. Destruction of these leases by the eminent domain process is not quite as simple as the airport authority or the FAA believe.

Vindy

In an August letter to the FAA, Dan Dickten, the airport's director of aviation, said he believes the current lease already protects the FAA's investment satisfactorily but suggested that the authority could buy the building from Millwood if necessary.

Ultimately, the port authority's powers of eminent domain would also be available "in order to secure ownership of the building," the letter noted.

An Oct. 29 letter to Dickten from Stephanie R. Swann of the FAA's Detroit office, said the port authority should consider buying the building from Millwood so the authority can "control the terms of any lease agreement for the building."

Full post as published by National Eminent Domain Blog on November 24, 2010 (boomark / email).