News / Gary airport hires advisers for a PPP project

Gary airport hires advisers for a PPP project

🕔 May 1, 2013
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The Gary airport in Chicago has hired advisers for a potential PPP project.

The airport authority on Monday April 22, approved a fee for JClark Aviation Group of the greater of $200,000 or 0.5 percent of any public-private partnership deal struck at the airport.

The airport authority on Monday also approved a similar "at-risk" contract for A.C. Advisory Inc., of Chicago. The firm, headed by Adele Cepeda, will be paid $250,000 to be the airport's advocate and overall financial adviser in negotiations with private investors. Similar to Clark's contract, the firm only gets paid if a deal is reached.

The airport authority also authorized to have airport staff negotiate a contract with the law firm of Faegre Baker Daniels LLP to act as bond counsel for the airport's runway expansion project as well as legal adviser on any possible public-private partnership.

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