The City of Swift Current has agreed to another nine-year land lease for a hangar at the Swift Current Airport.
Keatco Farms Ltd.'s contract, beginning on September 1, 2025, and spanning until August 31, 2034, was finalized at city council on Monday night. The initial annual rate of $2,669 will increase by five per cent per year, reaching $3,943 in the final year of the agreement.
Keegan Story, manager of environmental services for the City of Swift Current, said Keatco Farms Ltd. owns hangar 11 on pad F.
"The terms and conditions in the attached lease agreements are consistent with the other lease agreements at the airport," he said.
The city has several lease agreements for land at the airport, creating an extra revenue source.
"Currently, there are leases in effect encompassing six airside concrete pads, 13 separate buildings, an aviation fuel facility, and approximately 400 acres of agricultural land," he said.
Councillor Bruce Deg, who was absent from the July 21 council meeting, wondered why the agreements were for nine years, and not a five or ten-year contract.
"The last ones of these that came by, I asked the same question," councillor Ryan Plewis said. "It has to do with some legislation."