Macquarie Infrastructure Corp. has been selected to operate New York’s Westchester County Airport in a $1.1 billion public-private partnership.
The county and the company will negotiate final terms and county legislators will vote on the deal.
The proposals were meant to manage, operate, maintain and improve the airport in accordance with an FAA program.
The county will get more than $1.1 billion over 40 years, including $300 million upfront. It will be reimbursed $10 million for airport police, with payments increasing 2.5 percent a year for a total of $674 million.
The county expects to receive an annual revenue stream of $6.5 million that can be applied to the budget.
Macquarie has also agreed to spend $550 million on capital projects, such as terminal improvements, environmental measures, baggage handling and dining options.
Macquarie has ownership and management interests in eight airports worldwide, including the Brussels Airport (Belgium), Copenhagen Airport (Denmark) and Indira Gandhi International Airport in Delhi (India).
