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Medford airport plans parking expansion Wednesday Oct 5, 2016 at 2:55 PM Oct 5, 2016 at 4:37 PM Vickie Aldous Mail Tribune @VickieAldous Jackson County is buying property for a major expansion of its parking area at the Rogue Valley International-Medford Airport, which continues to set passenger records. "We're thrilled to be able to grow and to meet the customers' needs," Airport Director Bern Case said. The county-run airport has about 1,000 parking spaces and will be able to add 400 to 500 using a 6.38-acre piece of property on the back side of the current long-term parking area, county officials said. "We've been overflowing in the long-term parking area on a regular basis. It doesn't even take a holiday — just a regular day," Case said. Demand is high for long-term parking, which costs $10 per day. Short-term parking costs $2.50 per hour or $15 per day, according to the airport's website. Travelers on extended trips can save money by using long-term spaces. On Wednesday, the Jackson County Board of Commissioners approved a lease and purchase agreement with the couple who own the 6.38-acre property. The county will lease the land for $23,167 monthly or $278,000 annually for up to three years and then buy the land for its appraised price of $5.56 million. Lawyers for the two sides hammered out the agreement because if the county bought the land outright, the couple would have only 45 days to invest in another $5 million property to avoid paying taxes on the income from the sale, Case said. While the agreement allows the couple up to three years to find new investment property, Case said the owners believe they can find new land in six to eight months, which would then clear the way for the county's land purchase. Case said he hopes airport customers will be able to use the new site for parking within a year. The airport, which is a financially self-sufficient department of the county, will pay the lease and purchase costs, county officials said. Case said the daily fee for long-term parking was recently increased from $9 to $10. Income from that increase will almost cover the lease payments. Commissioner Rick Dyer said the county's acquisition of the property required a creative, well crafted agreement because of the sellers' complicated tax situation. Dyer and Commissioner Colleen Roberts voted to authorize the acquisition. Commissioner Doug Breidenthal was absent. "It looks like good foresight and planning," Roberts said. Based on the latest figures available in August, the airport has seen 24 straight months of record passenger growth. Staff reporter Vickie Aldous can be reached at 541-776-4486 or [email protected]. Follow her at www.twitter.com/VickieAldous.