Westchester County hires advisor for airport project
The Westchester County (US) has announced it has hired Frasca and Associates to help them find a private operator for Westchester County Airport.
In November 2016, the Westchester County announced a new plan for the airport that would improve the overall passenger experience, energize the local economy, and strengthen environmental protections.
The airport is a county-owned airport in Westchester County, New York, three miles northeast of the central business district of White Plains, in the towns of Harrison, North Castle and Rye
The plan – made possible by Westchester’s eligibility in a Federal Aviation Administration program that allows small to mid-sized airports to be run as public-private partnerships – would be initially structured under a 40-year revenue-sharing lease with Oaktree Capital Management, L.P., whose record includes the successful completion of similar projects in Baltimore, Puerto Rico and London. But the County headed late last year over the contract Oaktree.
Westchester decided it would seek bidders on its own and would hire an adviser to help evaluate the deals.
If completed Westchester County Airport would be the third airport ever privatized since a Federal Aviation Administration pilot program started in the 1990's.
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