Airport and OTC Enter Lease Talks

August 23 , 2007

As construction work ramps up on the airport’s new midfield terminal, airport officials have found a possible use for the soon to be empty current terminal.

“Ozarks Technical Community College (OTC) is interested in leasing the old terminal,” says Gary Cyr, airport director of aviation. “Assuming we reach an agreement, this is a win-win for both of us. For the airport it means finding a great use for an empty building. For the college it means more space for a growing student body.”

The current terminal was built in 1964 and has seen five significant additions. Today it has over 150,000 square feet and a parking lot with over 1300 spaces. “Airports are always looking for ways to generate revenue that are not tied directly to aviation,” says Cyr. “Aviation revenue tends to be volatile—it goes up and own with airline economic cycles. Leasing the old terminal will diversify our revenue streams.”

Airport and OTC officials expect to start talks early this fall, with negotiations taking several months. Any agreement will have to be approved by the governing boards of both the Airport and OTC.