News Column

BRIEF: Beach Council delays vote on museum tax exemption

June 17, 2014

By Kathy Adams, The Virginian-Pilot

June 17--VIRGINIA BEACH -- The City Council this evening voted to defer until July 1 voting on a proposed tax exemption for the Military Aviation Museum.

The exemption would allow millionaire entrepreneur Jerry Yagen to avoid paying real estate and personal property taxes on the roughly 80 acres, 60 planes and multiple hangars and buildings used by the nonprofit. He owns the property, but loans it to the museum.

The proposal drew opposition from neighbors, who said they're concerned about safety with the Pungo museum's increasing flight activity.

Council deferred voting on the issue to seek additional information, including an estimate from the Commissioner of the Revenue of how much Yagen's planes are worth.

The Council also unanimously approved rezoning and a conditional use permit for construction of a 5,000-seat stadium and complex to house a minor league baseball team, the Virginia Beach Neptunes, near the city's Sportsplex off Princess Anne Road.


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Source: Virginian-Pilot (Norfolk, VA)

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