Gary airport to get RDA grant for runway project
By Matt Mikus firstname.lastname@example.org December 19, 2012 4:40PM
Updated: January 21, 2013 3:54PM
GARY — The Gary International Airport Authority approved a $30 million grant agreement with the Northwest Indiana Regional Development Authority on Wednesday. The grant will be used to help with the airport’s runway expansion project.
The airport will use the funds to expand the airport’s runway from 7,000 feet to 8,900.
The project is expected to be complete by late 2013 with a cost of $160 million. The RDA has estimated that the economic impact of the project would be about $267 million for the region as a whole.
Members of the board had basic questions regarding the language of the agreement, but the five members present at the special meeting were in favor of the grant agreement.
The agreement helps encourage the airport to use the $30 million, and other expenses would have to be paid by the airport, should they go over budget. A stipulation in the agreement, said Patrick Lyp, the airport’s attorney, also allowed 2 percent overrun on the project, but only at the RDA’s discretion.
The airport authority also approved a change to an agreement with the Federal Aviation Administration that will allow access to airport runway equipment, and tabled a request for hiring an additional mechanic.