Board Approves New Lease Policy for City’s Airports

The Los Angeles Board of Airport Commissioners approved a new policy for leases at its four airports Tuesday, despite concern from tenants at Van Nuys Airport that it could lead to big rent increases that might drive away small businesses.

Lease rates at Van Nuys Airport have not been raised for a decade, and the new policy requires appraisals to set the rates at market levels as leases come up for renewal, according to Stacy Geere, a spokeswoman for the city’s airport department.

“We do not have a specific rental rate in mind,” Geere said. “The rental rates will be based on fair market value.”

She noted that the new policy, which will be implemented immediately, applies not just to Van Nuys but also Los Angeles International, Palmdale and Ontario airports.

However, tenants at Van Nuys said they fear that major rent increases could drive away small businesses that are located at the airfield.

“It is a concern,” said Brian Kirkdoffer, general manager at Clay Lacy Aviation.