MacRo LTD Blog

Frederick Municipal Airport to Lose Tenant

Despite the challenges of the local industrial real estate market, the City of Frederick faces the loss of funding to pay off bond debt if certain rental rates are not achieved.MacRo_OldSize_BlogPlaceholder

Katherine Heerbrandt, staff writer for the Frederick Gazette, reports that the ”Mid-Atlantic Soaring Association, a club for people who fly gliders, has been a fixture at the Frederick airport since 1968, and pays $1 a year in rent in exchange for building a hangar at the airport 20 years ago.”

“The FAA says the city must charge the Mid-Atlantic Soaring Association $96,000 a year in rent if it wants to be eligible for $13.6 million in grant money that would pay off the bonds the city issued in 2009 to buy land to extend the runway” …

Become a MacRo Insider

Leave a Reply

Your email address will not be published. Required fields are marked *