Canadian Harvard Aircraft Association Lease Increase

Tuesday, 17 March 2015 05:51

The Canadian Harvard Aircraft Association will be paying more for their hanger lease at the Tillsonburg Airport

TILLSONBURG - The Canadian Harvard Aircraft Association is preparing to be more diligent with their fundraising after their hanger lease rate at the Tillsonburg Airport was increased.

Tillsonburg Council made the decision earlier this month after it was decided that the Harvard's status quo rate was not supportable based on the need for the airport to grow revenues and maintain airport infrastructure.

Public Relations Director with the Canadian Harvard Aircraft Association Terry Scott says they had appeared before council asking for an incremental increase should maintaining status quo not be possible.

"We have signed a new ten year lease with an option for a ten year renewal which will take the Harvard Aircraft Association to the end of 2034. We are looking forward to growing -- just as the airport will probably do -- and looking forward to a long partnership for the next 20 years."

At the new phased in rate, Tillsonburg will receive nearly 60 thousand dollars in revenue over the full lease period as opposed to the 15 thousand they would have received at the previous lease rate.

Prior to this decision, the Canadian Harvard Aircraft Association paid $1 for Hanger 1 and $764 for Hanger 2 annually as well additional funds for two other portables.

Once the fees are fully phased in, the association will be paying nearly $4000 a year.

Scott says they are a registered charity and added costs do impact them greatly.

Scott says they have been at the airport since 1988.

"We think we have a great partnership with the airport and the town and we are able to work out an agreement that is mutually beneficial to the both of us. It allows us to have some time to fundraise and deal with those increased costs over the next 20 years and we are confident we can do that."

The phased in approach to the lease would start payments of $1000 in 2015 with an increase of $250 per year for the next 12 years until the full lease amount is reached in 2027.