Preferred bidder selected for Gary Airport P3
The Ad Hoc Committee of the Gary/Chicago International Airport Authority, appointed to evaluate public-private partnership (P3) proposals to invest in the airport and the surrounding area, last week announced it has entered into exclusive negotiations with Aviation Facilities Company Inc./AvPORTS (AFCO).
The Committee expects to conclude negotiations in the coming weeks and present a final recommendation to the Gary/Chicago International Airport Authority next month.
Carrie J. Hightman, Chair of the Ad Hoc Committee said:
"Entering into exclusive negotiations is an important step toward our goal of unlocking the value of the airport and the surrounding area to attract jobs, long-term investment and professional management to the airport."
In September, the Committee announced it had begun negotiations with two leading respondents - Aviation Facilities Company Inc./AvPORTS and the GCIA Group.
The Gary/Chicago International Airport Authority approved on 22 July 2013 a Request for Proposals (RFP) for the Development and Management of the Gary/Chicago International Airport and Related Assets to invest in the airport and the surrounding area through a potential public-private partnership. The committee wants to see a plan from bidders for attracting $100 million more in investment to the airport during the next 20 to 40 years.
In addition to the P3 exploration, major construction at the airport of a $166 million runway extending the main 7,000-foot runway by 1,900 continues.
The Gary/Chicago International Airport is less than 30 minutes from the heart of the tri-state region - Chicago. The airport is directly connected to Chicago's transportation network through freight, interstate and mass-transit and has close proximity to multiple Lake Michigan ports.
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