Port commissioners approve Devinaire lease
UPDATE: Port of Columbia County commissioners approved a lease agreement with charter-plane service Devinaire last week. The company plans to move operations from Hillsboro to Scappoose Industrial Airpark. The port has agreed to construct a $3.1 million, 31,500-square-foot airplane hangar for Devinaire, financed in part through a loan from the state of Oregon. With Devinaire paying just under $20,000 each month on a 20-year lease, and monthly loan payments of roughly $15,000 the hangar construction is expected to yield profit for the port even before the loan is paid off. "The real return on investment, for me, is jobs," said Commissioner Robert Keyser.
Devinaire is one step closer to moving its aircraft charter operations to Scappoose Industrial Airpark.
A draft lease was presented to the Port of Columbia County board of commissioners on Wednesday, May 8, for review. The board will likely vote on the lease at the May 22 meeting.
The company, which provides charter private flights, is currently based in Hillsboro. The new lease would allow Devinaire to move hangar operations from Hillsboro to Scappoose.
If the commissioners approve the lease, the port will build a 31,500-square-foot hangar for Devinaire's use by June 2020.
In February, commissioners voted to allow the port to take out a $2.5 million loan to finance construction of the hangar. The construction will total $3.1 million.
Devinaire will pay just under $20,000 per month to rent the building. That will likely cover the monthly payments on the 20-year loan from the state.
"I think you'll find this is a very standard, unmodified lease from our template," Craig Allison, the port facilities manager, told commissioners Wednesday.
In 2018, because of high construction costs, the port lost deals with Devinaire and another company that wanted to build aircraft hangers. Devinaire had halted plans to develop on port property after learning about the cost of required fire suppression systems, Allison said in May 2018.
The company is pushing for up to 20 jobs, port Executive Director Doug Hayes said in February.
It isn't clear how many of those positions would be open for hire.