Instead of paying $1 in rent for the current fiscal year, Salt Lake City will pay the Salt Lake City Department of Airports $55,000, Graham said. The rent will go up $5,000 per year until 2017.
According to a Federal Aviation Administration directive after an audit of Salt Lake City International Airport released in 2012, the airport department, which operates independently of Salt Lake City, must charge "fair market value" for the land it leases for the golf course.
But Salt Lake City proposed to the FAA that instead of the $155,000 rent, which approximates fair market value, it be allowed to pay $55,000 per year.
The FAA agreed, on the condition that a memorandum of understanding that would have allowed Wingpointe to operate until 2087, be amended to end in 2017. In addition, the city agreed to rezone the golf course from "open space" to a designation that would allow "aeronautical uses," Graham said.
If the Department of Airports does not need the land for such uses by 2017, the city can pursue another five-year lease extension for Wingpointe at fair market value.
Pat Shea, who was chairman of the airport's board of directors when the golf course was built in 1991, said he is disappointed in the arrangement reached between Salt Lake City and the FAA.
He said the deal was the "convergence" of a heavy-handed federal government and an airport department that seeks to make more money.
"It's a marriage made in heaven or hell, depending on your viewpoint," he said. "Golf [in Salt Lake City] has become an orphan child to parents with other interests."
If the airport forces closure of Wingpointe, Shea said, it must reimburse the Salt Lake City Golf Enterprise Fund that built the links at a cost of $2.2 million more than two decades ago.