The Gary/Chicago International Airport Authority Board has unanimously approved a 40-year, $100 million public-private investment partnership. The deal with Virginia-based Aviation Facilities Co. Inc. includes profit sharing with the airport and the city. The proposal calls on the firm to invest $25 million in the airport over the first three years and maintain a minimum of a 30 percent local work force. The deal gives Aviation Facilities exclusive real estate development rights on and around the airport.
The vote occurred with two vacant seats on the panel. Tom Collins, who was appointed by Governor Mike Pence and Richard Cavanaugh, who represents Porter County on the 7-member board have both resigned.
Sources: Gary/Chicago International Airport, Inside INdiana Business