"What are the details of the city lease and relevant amendments?"
Under the terms of the recently approved lease, the City of New Haven will provide the full $325,000 annual operating subsidy this fiscal year and half of the subsidy ($162,500) next fiscal year. After that, though the city will continue to own the airport, it won’t be obligated to contribute financially for the remainder of the 43-year lease since Avports has agreed to cover all associated costs. Additional key elements of the lease that was approved by the New Haven Board of Alders include: