MOSES LAKE - The Port of Moses Lake approved a lease agreement with Fairchild Air Force Base for a monthly rent of about $94,670.

The one-year lease starts Jan. 1 and involves the base's use of four buildings and 74 acres of port property, said Craig Baldwin, the port's executive manager.

The base is relocating to Moses Lake next year while runways and taxi ways are being rebuilt at Fairchild.

At the Port of Moses Lake, airmen will use the former Japan Air Lines hangar that's now leased to Boeing.

The extra rent revenue helps the port with future capital improvements, sprinkler system costs and possibly new buildings.

"The port will look at how it's expended, either through new buildings, capital development or what we can do to help grow the economy," Baldwin commented about the funds.

Sprinklers are not a requirement for Fairchild, but are being researched because of a possible future need for businesses.

The port is waiting for a grant to help pay for a portion of the sprinkler costs.