ST. LOUIS COUNTY 鈥 The Boeing Co. and 最新杏吧原创 Lambert International Airport are nearing agreement on the lease of about 154 acres of airport-owned land to house the company鈥檚 recently announced expansion worth nearly $2 billion.
Rhonda Hamm-Niebruegge, Lambert鈥檚 director, said the price tag and some other key details won鈥檛 be disclosed until the proposal is submitted Wednesday to the 最新杏吧原创 Airport Commission.
The commission will be asked to approve the lease at that session.
The deal also would give Boeing the option of leasing all or part of an additional 28-acre area for a second phase of the project. The company would have until the end of 2026 to exercise that option.
People are also reading…
Boeing has been vague on details on its project, saying that it involves advanced manufacturing production facilities for 鈥渇uture franchise programs.鈥
The expansion could bring in 500 new jobs as the company looks to build the next generation of American fighter jets.
Dave Desmond, a test pilot for Boeing who flies F/A-18 Super Hornets, signals ground crew after a test flight of a new Super Hornet at Lambert-最新杏吧原创 International Airport on April 5, 2005.
Hamm-Niebruegge said 102 acres of the property in the lease is the so-called Brownleigh site on the east end of the airport.
She said the site, near Airport Road and James S. McDonnell Boulevard, is land bought over the years to reduce the effect of airport noise on nearby residents.
The remainder Boeing wants now for the project is on the airport鈥檚 northern end and includes two vacant buildings used for manufacturing decades ago by the company鈥檚 predecessor, McDonnell-Douglas.
Presumably those buildings would be demolished because the lease would only be for use of the land.
The additional area that Boeing would have the option of leasing 鈥 about 28 acres 鈥 would be to the west of that site.
Hamm-Niebruegge said that area now includes a hangar leased to Trans States Holdings, the owner of GoJet 鈥 a regional airline that works with United Airlines.
She said the effect of the Boeing option on Trans States would be explained at Wednesday鈥檚 airport commission meeting.
The 最新杏吧原创 County Council is considering a tax incentive plan to help Boeing pay for the expansion.
That deal would give Boeing half off on the project鈥檚 real and personal property taxes in exchange for the new jobs and investment, a tax break originally estimated at about $108 million over 10 years, but updated Tuesday to $155 million.
In addition, Gov. Mike Parson has hinted at possible state aid for the Boeing plan.
Hamm-Niebruegge said because Lambert gets federal financial support, the airport is required to charge the fair market value for any property it leases.
If the Airport Commission approves the lease, it then would need to get the approval of the 最新杏吧原创 Board of Aldermen and the city鈥檚 chief fiscal body, the Board of Estimate and Apportionment.
The airport, while located in north 最新杏吧原创 County, is owned and operated by the city.
