Larkin Announces Meeting On Lease Acquisition Of Stewart Airport

Senator Bill Larkin (R-C, Cornwall-on-Hudson) today announced that the Port Authority Board will be convening a special public session meeting tomorrow, January 25, 2007 to vote on the purchase of the Stewart Airport lease.

The meeting will take place on January 25, 2007, at 10:30 a.m., on the 15th Floor of the Port Authority headquarters at 225 Park Avenue South in New York City.

The Port Authority and NEG have agreed to a purchase price in the amount of $78.5 million for the lease.

The Port Authority Board is expected to approve the purchase of the lease at tomorrow's public session. All actions taken by the board are subject to veto by the Governor. Senator Larkin anticipates Governor Spitzer’s support of the sale of the lease to the Port Authority. "I expect that Governor Spitzer will approve of the takeover of Stewart Airport by the Port Authority and I support this decision," said Senator Larkin.

The Port Authority anticipates the State of New Jersey to act on the measure shortly. A third party operator will likely run the day-to-day operations of the airport.