Airport lease rates are changing at the Ponoka Industrial Airport.
Town council approved amendments to the lease rates during the regular meeting Jan. 9 after hearing that the current rates create some imbalance for leaseholders.
Chris McKenna, director of operations and property services, explained that the current rates are set at $1.53 per square metre for lots less than 1,000m squared, and $0.78 per square meter for lots 1,000m squared and over.
The issue with this rate means that some holders with more than 1,000 square metres of space ended up paying less than some leaseholders of under 1,000 square metres.
The new rates will be calculated at $1.6065 per square metre for the first 800 square metres and then anything after 800 square metres is set at $0.8032 per square metre plus GST.
McKenna says this should balance out from the older rates. He added that the town will be able to implement these new rates next year as it’s too late to make the change for 2017.
A per lot user fee was also approved at $0.0106 per square metre per month plus GST. Both were recommended by the Ponoka Industrial Airport Development Board.