WESLACO — Air traffic may pick up here in the near future as the Economic Development Corporation recently leased a hangar at the Mid-Valley Airport.
Marie McDermott, interim executive director for the Weslaco EDC, confirmed this week that Davis Net Lease No. 1 entered into a five-year lease agreement with the corporation for use of an 8,000-square-foot hangar.
The agreement is for $12,000 per year and provides the Weslaco-based company with a first offer to purchase, which grants the option to acquire the hangar before the property can be sold to another potential buyer.
“It’s been several years since the hangar has been leased,” McDermott said of the deal’s significance for Weslaco, adding that the first four months were offered rent-free as repairs are being completed.
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