Schenectady, N.Y., May 2, 2008 -- The Schenectady County Legislature will consider a lease proposal Monday night for a new 10,000 square foot hangar to be built by Clifton Park developer Bruce Tanski at the Schenectady County Airport. The County is transforming the 700-acre site as an Airport Tech Park that will be home to Fortitech’s new global R&D center as well as other fast growing businesses, general aviation, a new $20 million military reserve center and the 109th Airlift Wing of the New York Air National Guard.
“We welcome this investment at the County Airport which has so much potential to help us bring new jobs and investment to our community,” said Susan E. Savage, Chair of the Schenectady County Legislature. “This project will bring additional activity to the Airport Tech Park while generating revenue and new tax base for Schenectady County.”
Mr. Bruce Tanski is the owner of a construction and development company in Saratoga County. His company developed and owns the Fairways at Halfmoon, the Shops at Halfmoon and a large number of apartments as well as single family home developments. Mr. Tanski was profiled in Success Magazine last year. He plans to construct a 10,000 square foot hangar on a one-acre site adjacent to the control tower at the County Airport.
Mr. Tanski said, “I look forward to the opportunity and challenge of bringing in something new and providing additional revenue to the Airport.”
The County will provide a land-lease at a cost of $5,000 per year. The lease rate will increase at a rate of 3% per year or the consumer price index (CPI) whichever is higher. The lease would be for five years with three five year options. In addition, a payment in lieu of tax (PILOT) agreement that will generate taxes for the Town, School district and County. The PILOT will generate 20% of the taxes based on the value of the building the first year increasing by 20% each year until reaching full value in year 5.This project marks the first time that the County, Town and School District will net revenue from a lease at the airport.
This project is consistent with the Airport’s master plan as it enhances the further development of general aviation facilities at the airport.
Schenectady County is in the process of building a new access road to service the Airport Tech Park. The Airport Tech Park is one of a series of smart growth business parks being developed in Schenectady County.
Ray Gillen, Commissioner of Economic Development and Planning for Schenectady County said, “This new hangar will be another great addition to the flight-line. The Airport is seeing a surge of new investment along with other parts of our County.”
The County Legislature will be briefed on the lease next Monday.
