Posted: Tue, Nov 11, 2014, 7:44 AM ET (1244 GMT)
NASA announced Monday that it has signed a lease with a subsidiary of Google to take over management of a federal airfield adjacent to NASA's Ames Research Center. The lease gives Planetary Ventures LLC control of Moffett Federal Airfield, including runways, hangars, an operations building, and a golf course. Planetary Ventures will pay $1.16 billion in rent over the 60-year lease, and will also contribute more than $200 million in improvements to the facility, including the restoration of the large Hangar One at the airfield. NASA and the General Services Administration selected Planetary Ventures earlier this year to begin negotiations that led to the lease.
