A surplus parcel of land at the Cincinnati/Northern Kentucky International Airport is in the process of being sold to a manufacturing company operating on the airport’s campus.
The Kenton County Airport Board voted to move forward with a contract to sell 1.186 acres of land it owns to Meyer Tool, an aerospace and gas turbine engine component supplier, at Monday’s regularly scheduled meeting.
The land, located on Donaldson Road, is part of Parcel 427 — 54.36 acres of land that was purchased by the Airport Board in 1974 for the purpose of developing CVG. In total, the value of the sale is $130,000, or fair market value. Currently, a parking lot exists on the land.
“The Meyer Tool facility, behind that is a parking lot. That parking lot is land that we own that Meyer Tool wants to buy from us,” CVG CEO Candace McGraw said at the meeting.
Meyer Tool established Cox Plant 1 in 1987 — one of their two facilities located on CVG’s campus. The company eliminated on-site parking at Cox Plant 1 during an expansion of the manufacturing facility.
In 1993, Meyer Tool entered into a 30-year agreement with the Airport Board to lease 1.186 acres of Parcel 427 land so they could construct a new parking lot to make room for their employees working at the adjacent manufacturing facility.
Since the lease contract has now expired, leadership at Meyer Tool has requested to buy the acreage from the Airport Board.
An avigation easement is written into the contact which prohibits the use of the property for any non-compatible usage. The contract is subject to final approval from the Federal Aviation Administration.
