New Westchester County Airport management agreement to pump millions into budget

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Astorino: “… you are going to have a much better airport”

WHITE PLAINS – A new management agreement for Westchester County Airport would add more than $140 million into county coffers, improve the overall passenger experience, boost the economy and strengthen environmental protections at the White Plains facility, County Executive Robert Astorino said Thursday.
The airport has been run by a private company ever since it was turned over to the county by the federal government in 1945.                
A new public-private partnership program created by the FAA, known as
P3, will allow Oaktree Capital Management, L.P. to run the facility for
40 years under a revenue-sharing lease.  Oaktree will redesign the
passenger lounge, ticketing areas, improve parking, enhance arrival area
and upgrading concessions and restaurants.  The four aircraft gates
will not be expanded and the overnight ban on commercial service will
continue.
Astorino said that will translate into better facilities, passenger experience and more money for the county.
“Fifteen million dollars up front for next year, $5 million for the following four years and then at least an average of $2 million for the rest of the agreement and you are going to have a much better airport; it’s going to be better run and you are going to have passengers that are going to have a lot more amenities at the airport,” he said.
The FAA must approve the agreement and the county board of legislators must give its okay to the lease agreement.