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CL- 1938 Work Session   Item #:   D.    
Work Session Meeting
Meeting Date: 08/09/2018  
Subject:    Purchase Agreement to Acquire the Daniel Group Hangar
From: Marc Adelman

Work Session Meeting:     08/09/2018
The Danville Regional Airport seeks to acquire the Daniel Group hangar to support the growing need for hangar space by Averett University's Aeronautics program.  Due to increased enrollment associated with the University's flight school and the expansion of its fleet, there is a need to make additional hangar space available for lease to facilitate aircraft storage requirements.  The Daniel Group, which owns a hangar at the airport, has agreed to sell its facility to the City of Danville.  Funding requirements to acquire the hangar were approved in conjunction with the FY 2019 budget.
Averett University has maintained a flight school at the Danville Regional Airport since 1981.  Over the past three years, enrollment in Averett University's Aeronautics program has increased from 40 students to over 100 students.  Presently, the University owns eight aircraft and is in the process of acquiring another aircraft to facilitate the growing interest in their program.  Since 1996, Averett University has expanded their use of available hangar space at the airport to store aircraft.  However, presently the University has indicated that they maintain little room to maneuver planes and as a result their aircraft are at risk with being damaged when pushing or pulling planes in and out of hangar areas. 

The Danville Regional Airport would like to support the growth of the flight school program and accommodate the University's need for hangar space by acquiring the Daniel Group hangar which has remained vacant for several years.  The agreed cost to acquire the hangar from the owner is $140,000.  This hangar is approximately 16 years old and is 59' x 66' or 3894 square feet.  Funding for this acquisition was approved as part of the City of Danville's FY 2019 budget.
It is recommended that Danville City Council approve the purchase agreement to acquire the Daniel Group hangar.

Purchase Agreement

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