Option – WTCA offers six-month and one-year options to prospective members interested in a license for an available city. An option does not confer membership. During the appropriate option period, the WTCA Board will not entertain an application for that same city. The fees for an option are currently $25,000 for a six-month option, and $50,000 for a one-year option. The six-month option may be extended an additional six months for a fee of $35,000. If the option holder converts its option during the applicable option period and is approved for membership by the WTCA Board, its option fee(s) are credited toward the full membership fee.
Regular Membership – Regular members pay an initiation fee of an amount determined by the Board, currently $200,000, for the license to operate a World Trade Center in a city or economic locality.
Satellite – Considered a regular member and sponsored by an existing regular member within the same economic region. Initiation fee for a satellite is 2/3 of the regular initiation fee which would be $133,333 at current rates. The annual dues are the same as that for regular members, currently at $10,000.
Transfer of Regular Membership – A transfer occurs when more than 50% of the beneficial ownership of membership is transferred. The Board approves all transfers and the current transfer fee to be paid WTCA is $133,000 due with an application for transfer. The new owner pays the normal annual dues of $10,000 at current rates.
The above descriptions are for general information purposes only.
For more detail, contact the WTCA and/or see WTCA’s Application for Membership.