Category Archives: Chicago International Airport

City of Gary and AFCO/AvPorts release Vision Document

GYY_Vision_Cover_Front-1The Public Private Partnership (“PPP”) between the City of Gary and AFCO/AvPORTS created this visioning document as a strategy to guide investment and development at and around the Gary/Chicago International Airport. The initiatives outlined in the document seek to position the Airport as a driver of economic growth, create a business- friendly environment for firms that require and support rail, highway, marine, pipeline, and air-oriented modes of transport, and market Gary and Northwest Indiana as a nexus of robust transportation and infrastructure networks.Areas of Focus:1. The Airport  * Secure customs capability  * Return of commercial service  * Market and promote the runway extension2. Surrounding Land  * Advance road improvement projects  * Promote development opportunities domestically and abroad  * Respond to inquiries and engage broker community3. Infrastructure  * Advance Buffington Harbor, Airport Road and Clark Road improvement initiatives  * Advocate for higher and better use of lakefront properties  * Integrate long term...

AFCO Master Development Agreement Approved

AFCO Master Development Agreement Approved

January 27, 2013 – Aviation Facilities Company, Inc. (AFCO) is pleased to announce that the Gary/Chicago International Airport Authority today unanimously approved development and management agreements to dramatically improve the economic landscape of the airport, the City of Gary and Northwest Indiana.

AFCO will Lead the Development

Under the terms of the agreements, AFCO will lead the development effort while its affiliate, AFCO/AvPORTS Management LLC (AvPorts) will lead the airport management effort. The transactions represent the culmination of a year-long public procurement selection and negotiation process that has been timed to coincide with the final stages of completion for extension of the main runway to 8,900 feet.The development agreement is expected to result in over $100 million in new development in and around the airport over the next 40 years with $25 million to be deployed by 2017. The transaction is structured as a Public Private Partnership (“P3”) with elements that include revenue sharing to the City of...