Thinking of buying an airport

There's a grass strip for sale in my area. It has a single residence. It had been listed for close to a million dollars a few years ago, but now it's up for auction.

I'd hate to see this beautiful strip disappear. Is there a way for a group of people to pool money, form some sort of entity and purchase it? It would be like guys joining together to buy an airplane.

Here's the announcement with all details: http://www.fortnaauctioneers.com/auc...ail/?id=223479

and here's a video of someone flying into the field: http://youtu.be/YmQecufGujA

Thanks!

Flynow- how many lots do you think you could you put in it as an air park?

There quite a few private strips that I know of that are club-owned, so it's certainly not out of the question but there are probably liability, zoning, and other concerns to think about. You would probably want to talk to an aviation attorney to get an idea of what's involved. We have a volunteer Legal Advisory Council that helps out members with general legal questions like this. My colleague Jonathan Harger serves as their liaison and is also our airport policy expert on staff, so he'd be perfect for you to talk to. You can reach him at 920-426-6103.

Our local airport is owned by the Flying Club. Small grass strip that had been previously owned by the local 'recreation area' and turned over to us several years ago as they didn't want the liability. We have about 25 members and operate as a non stock corporation with a board of directors......none of which are paid. We have about 12 hangars on the airport and the hangar owners pay a 'per square foot' charge for having their hangar on the airport, in addition to personal property taxes. That along with memberships and a few donations pays the taxes and expenses and we've operated in the black for many years. It's listed as a private airport but we don't deny anyone who might want to fly in for coffee or telling flying lies. Good leadership, willing members and a set of by laws are the key to making things run smoothly. At least it's worked for us.

Thanks! I'm going to swing by the township building to see what records they have on the property. I'll give Jonathan a call in a few days. Thanks to all. Not sure how many lot's I can put in there. Zoning says minimum size is 1 acre and allows for development with permission. The zone is now for resort or hotel type business. A very fancy well run resort is next door http://www.skytop.com