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Land Lease Policy
The Victoria Airport Authority leases land for Aviation and Aviation compatible development. Land development is guided by the Authority's Policy and by VAA's "Land Use Plan and Guidelines for Development" which provides performance standards for all development on airport lands. This document divides the airport into several different areas which relate to the use that would be allowable for the area and defines building and landscaping standards.
Land leasing opportunities are reviewed on a case by case basis. Of paramount concern is ensuring the safety of airport operations and the financial viability of the development. The development must also ensure it fits with the community and is environmentally sustainable. Lease terms depend on the type of development and amount of investment. Lease rates are based on local market land values for industrial and commercial land. Lease rates are reviewed every 5 years, are based on the Consumer Price Index (CPI) for the first 20 years of the lease term and thereafter lease rate increases are based on market land values.
Interested parties should contact Terry Stewart, Director Marketing & Community Relations at (250) 953-7514 or email@example.com.