A 29-acre, $82-million airport terminal that will largely service jets owned by executives at Google has been approval by the San Jose City Council.
The plan was approved on Tuesday by the town's city council, granting a 50 year lease agreement at the rate of $3 million a year in rent.
The new airport will be capable of accommodating the largest jets, including Boeing 737s and 767s, owned by the internet giant's top executives.
The new terminal will primarily to serve Google executives' private-jet fleet would bring in $3 million in rent per year
The would-be 29-acre airport in San Jose, Calif., for Google's fleet of private jets would include 18.5 acres of parking for aircraft
Private: The new airport would be capable of accommodating the largest jets, including Boeing 737s and 767s, owned by the internet giant's top executives
The plan was approved in a 10-1 vote, with San Jose City Councilman Pierluigi Oliverio opposing the project on the grounds that the increased flights would disturb local residents.
The private airport would be constructed on what is now a parking lot on the property of the Mineta San Jose International Airport.
Signature Flight Service will oversee the new hangar and its primary tenant with be Blue City Holdings, the company managing the aircrafts for Google co-founders Larry Page and Sergey Brin and Google Executive Chairman Eric Schmidt.
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The Google trio current have to park their private jets at Moffett Field, a federal airfield operated by NASA, but their lease expires next year.
Along with offices and stores, it would have 18.5 acres of parking for planes.
The proposed development will bring in $3 million in rent for San Jose's airport and anywhere from $70,000 to $300,000 annually in taxes to the city, according to The Silicon Valley Mercury News.
Those fees are expected to be crucial in helping the local airport pay off the debt incurred of a recent $1.3 billion renovation.
Exclusive: The private terminal will only be accessible to jet owners and their guests
Debt: The city council expects the new facility can help the local airport pay off the $1.3 billion in debt it incurred for a massive renovation
The San Jose City Council approved a 50 year lease at $3 million a year in rent, including an estimated $70,000 to $300,000 in taxesBefore this proposal was under consideration, Google executives had wanted to invest $40 million to restore one of the hangars at NASA's Moffett Federal Airfield.
That site, which the company's private jets currently operate out of, is in Mountain View, Calif., where Google's headquarters, the 'Googleplex,' is located.
In exchange for covering the renovations, Google sought to park its planes inside part of that old hangar, but the deal did not move forward, according to local news reports.
Now the British firm, Signature Aviation, will construct new ramp space, a terminal, and hangars at San Jose's airport for Google's top management.
Google's executives currently park their jets at a NASA site in Mountain View, Calif., where the Internet search giant is headquartered
An $82 million airport for Google's top managers' private jets will be built at Mineta San Jose International AirportA panel of airport officials picked Signature Aviation's plan over two other proposals, believing that Signature was 'a financially stable company with strong financial indicators and will likely be a significant economic asset for the city,' Sherry said.
The company's plan would create both construction and long-term jobs in addition to bringing in revenue, he said.
Signature currently operates private air facilities in 113 locations.