Advisers in place to secure partner for Gary airport
By Carole Carlson email@example.com/648-3154 April 22, 2013 4:08PM
Updated: May 29, 2013 6:09AM
GARY — The Gary/Chicago International Airport Authority approved a pair of incentive-based contracts for advisers Monday as it moves to establish a public-private partnership for airport development.
A.C. Advisory Inc. of Chicago will negotiate proposals with private investors. Its “success” fee is $250,000.
JClark Aviation will oversee project management of the public-private exploration by the authority. Led by former Indianapolis International Airport CEO John Clark, the firm will work on a fee based on the greater of $200,000 or one-half basis point of the total approved pact with a private investment company.
Also, Faegre Baker Daniels LLP of Indianapolis, will serve as bond counsel for the airport’s runway expansion project and as legal adviser on the public-private partnership. Final terms of the contract will be considered May 13.
All three came with the nod of an ad hoc city-airport committee that’s leading the public-private partnership effort.
Airport authority board member Nikki Thorn cast the lone negative vote on the contracts of A.C. Advisory Inc. and JClark Aviation.
Those advisers would be paid by the private developer if a deal is reached with the authority and the city.
“Potential investors will take notice of this team and, more importantly, this team will help us recommend the best public-private partnership for the airport’s development,” said businessman David Bochnowski, a member of the authority board, and chairman of the public-private partnership committee.
Bochnowski called the plan to identify a private partner by August, “an aggressive timetable.”
In other business, airport runway expansion project manager Scott Wheeler told the board the new Airport Road overpass, west of the airport, might open as early as Thursday. Construction began last year on the overpass that will allow for railroad tracks that cross Airport Road to be relocated under the new overpass.
The authority board unanimously approved a resolution to name the overpass after former Tuskegee airman and Gary educator Quentin P. Smith who died in January at age 94. The city still needs to approve the resolution.
Also, the authority approved a $30,000 contract with ADK Executive Search, of Atlantic Beach, Fla., to conduct the search for a permanent executive director at the airport. The authority board hopes to identify a candidate by the fall.