Friday, January 27, 2017

New York Airports’ Rebirth Already Cleared for Takeoff

The Port Authority is in the midst of the largest public-private partnership in the country to build a new terminal as part of a total investment of over $8 billion in LaGuardia.




John Tierney’s “‘Third World’ U.S. Airports?” (Cross Country, Jan. 21) makes the case for private management and investment in U.S. airports, including those run by the Port Authority. All agree that LaGuardia (LGA) is a Third World facility. Mr. Tierney inexplicably fails to mention that the Port Authority is in the midst of the largest public-private partnership (PPP) in the country to build a new terminal as part of a total investment of over $8 billion in LaGuardia. The public-private partnership team brings international airport management expertise while assuming responsibility for this complex project. Under the public-private deals we struck over the past year, each terminal at La Guardia is under private-sector management.

At JFK, Gov. Andrew Cuomo announced a plan to address tired terminals, last-century customer service, improved roadway access and improved AirTrain service to JFK. His vision is based on $1 billion of committed capital in the Port Authority 10-year capital plan, $2 billion from New York state for expanded and improved road access, catalyzing $7 billion of private capital which, based on our experience in attracting over $6 billion of private capital to LGA we believe is readily achievable. At JFK, too, all terminals today are operated by airline tenants or private consortia. The Port Authority has been a national leader in PPPs in the last several years. In addition to the largest ever PPP at LaGuardia, we will soon be opening a new Goethals Bridge linking New Jersey and Staten Island, constructed and to be maintained by an international group in a $1.5 billion PPP.

Patrick Foye

Executive Director

Port Authority of N.Y. & N.J.

New York

Original article can be found here:  http://www.wsj.com

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