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Proposed P3 Airport Terms to be Made Public on 1/13

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Preliminary approval was given today by the Gary/Chicago International Airport Authority Board to move forward with the public meeting of ordinances surrounding the proposed privatization terms. Tim Toughy, spokesperson for the public-private partnership committee says the proposed terms will be made public on January 13th, with an opportunity for public comment through January 27th. A public hearing will also take place on January 27th and the board may choose to vote on the matter that day.
The proposed terms were negotiated by the Ad Hoc committee with Aviation Facilities Company Inc., of Virginia, and include an investment of 25 million dollars in the first three years and a minimum 30 percent goal for local workforce participation as well as performance incentives for revenue growth, including profit sharing with the airport and the City of Gary.


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