Macquarie Infrastructure has been chosen by the County Executive to manage, operate, maintain and improve the Westchester Airport in accordance with an FAA programme.

HPN Aviation Group ranked second, and FerroStar Westchester Airport Partners was placed third. Transportation and financial consulting firm Frasca & Associates carried out the selection process. The winning proposal by Macquarie will net the county some US$1.145 billion over the course. 

The lease is written to keep the airport footprint and capacity as is: no runway expansions, keeping the number of gates at six and capping passengers at 240 per half-hour. The county and the company will negotiate final terms and county legislators will vote on the deal. At least 12 of the 17 lawmakers must approve the lease.

The county will get more than US$1.1 billion over 40 years, including US$300 million upfront which comprises lease payments, money transferred to the general fund from county money locked at the airport and various reimbursements.

It will be refund US$10 million for airport police, with payments increasing 2.5% annually for a total of US$674 million. The county expects to receive an annual revenue stream of US$6.5 million that can be applied to the budget.

Macquarie has also agreed to invest US$550 million on capital projects, such as terminal improvements, environmental measures, baggage handling and dining options.

County Executive, Robert P. Astorino said:

“This proposal does just that: private investment capital – not taxpayer dollars – will improve the passenger experience, implement new environmental safeguards, and preserve the character of the neighborhood, all while creating a long-term revenue stream to help pay for county programmes.”

Michael Kaplowitz, chairman of the county Board of Legislators, said:

 “I believe that it is appropriate to take in consideration the opinions of County Executive-elect George Latimer during our budget deliberations. I also believe that any decision regarding the privatization of the Westchester County Airport should not be undertaken until the new administration has an opportunity to fully research the RFP respondents’ proposals.”

Macquarie officials said in a statement: 

“Westchester County Airport is an important community asset, and we will be solid long-term stewards for the citizens of Westchester County.”

“We look forward to working with the current and incoming county executive and county legislators to move this partnership forward. We are pleased that our message — investing in quality, working closely with the surrounding communities and investing more in environmental protection — was well-received.”