Latest news with #DanVicari
Chicago Tribune
10-04-2025
- Business
- Chicago Tribune
Gary airport buys 5.7-acre parcel for cargo complex expansion
The Gary/Chicago International Airport Authority has acquired a small but critical parcel needed for its $67 million 100-acre cargo expansion project on the airfield's north side. On Wednesday, the board approved the purchase of the approximate 5.7-acre parcel for $925,000 from SES Inc., a heavy construction sales and service center at 6915 W. Chicago Ave. Airport executive director Dan Vicari said the airport has been trying to acquire the property for several years. The airport authority recently closed on a $16.6 million revenue bond issue to finance several projects, including the cargo center. Meanwhile, Vicari said work is already underway on the cargo complex. He said sewers were in place and concrete work was slated to begin next month. The new cargo complex will be able to accommodate 18 wide-body planes, such as the Airbus A300, a wide-body cargo jet with a maximum payload of over 120,000 pounds. The airport gained state funding for a new $9.8 million fuel pipeline to enable it to fuel planes directly. An earlier release said cargo operations have increased and the airport ranks third in Indiana for its freight volume. In 2020, UPS began air delivery cargo service operations and later signed a long-term lease with the airport. Speculation increased recently that FedEx would occupy a warehouse on 78 acres sold last month for $4.7 million by the Gary Redevelopment Commission in Buffington Harbor. Officials said the buyers planned a $40 million warehouse on the site once home to the Lehigh Cement Co. New property owner Scannell Properties LLC, based in Indianapolis, builds warehouses for FedEx. Vicari declined to discuss the speculation and said any announcement would come from Mayor Eddie Melton's office.
Chicago Tribune
20-03-2025
- Business
- Chicago Tribune
Gary airport authority board updates minimum standards, hears comments on House bill
At its monthly meeting Wednesday, the Gary/Chicago International Airport Authority board updated its minimum standards for businesses. Members also heard multiple comments about an Indiana House bill targeting the makeup of the board. The airport's minimum standards are requirements that must be met by businesses to provide services at the facility, according to the Aircraft Owners and Pilots Association. 'We advertised changes in the way that feeds are collected for landing and parking at the airport, and standardize how it's done, no matter where you are on the airfield,' Executive Director Dan Vicari said, adding that airport staff recommend for standard changes to be accepted. Five members were present at the board meeting, with all approving the new standards. Changes include the definition of a based tenant, how fees will be assessed and how monthly fees are calculated. Based tenants now include those who park their aircraft in an area leased by the authority to approved fixed-based operators that the Federal Aviation Administration considers 'validated inventory,' according to information from GCIA. Aircraft that arrive at the airport will also now be assessed a landing fee, and if there for more than four hours, will receive a parking fee. Based tenants will not be assessed parking fees. GCIA will collect landing and parking fees. Original minimum standards had operators pay a monthly fee by the 10th day of each month, but the new standards removed the deadline for monthly fees. Airport board member Philip Mullins said the new standards keep GCIA competitive. Multiple Gary residents also expressed concerns with House Bill 1001, which includes language that shifts appointments on the GCIA authority board, according to Post-Tribune archives. If passed, two appointments would be shifted from the Gary mayor to mayors of Crown Point and Hammond. Four board members are currently appointed by the Gary mayor and governor, and Lake and Porter counties both appoint one person each. Residents are concerned that Gary will lose representation and don't believe it's fair for the city. Bruce Curry said during public comment that if appointees will be taken from the mayor, two new board positions should be added. 'To take away is unacceptable in my eyes,' Curry told board members. 'What we're starting to see is that everybody wants to take things once they start going in the right direction.' Curry believes circumstances are improving for Gary, including lower crime rates, so he doesn't understand why state officials would take away from the city. Curry asked board members to tell state officials that the changes are unacceptable. 'If they want to add a couple and give us more funding in the budget, that's fine,' he said. 'But to take away is unacceptable.' Robert Buggs also said he's concerned about House Bill 1001, and he said he's concerned appointees will be taken away when the airport is in a TIF district. 'This will be a financial hub,' Buggs told the board. 'We don't need anybody to come in and change the configuration of the board.' Vicari was unable to comment about the bill following the board meeting. GCIA spokesman could not immediately respond to request for comment.
Chicago Tribune
14-03-2025
- Business
- Chicago Tribune
Gary airport bond sale, paired with grants and local funds, targets improvements
Officials at the Gary/Chicago International Airport announced the closing of a $16.55 million bond sale Thursday for capital improvements including the construction of new hangars, renovations to the airport's terminal and an expanded cargo and logistics center. The bond sale ensures the airport remains competitive in the coming years, a release stated. The rate on the bond sale is 4.5%. It's being paired with local funds and grants to complete the projects, the release said. 'This sale will be immensely helpful to our future capital improvement strategy and positions us very well in the coming years in our continued effort to modernize our infrastructure,' said Dan Vicari, airport executive director. 'We've seen substantial growth of our general aviation and cargo services in the past few years, and we will continue to allocate our assets to support these sectors.' The airport is still without commercial passenger service but has ramped up its focus on cargo. In 2020, UPS began cargo service operations and later signed a long-term lease. Last year, the airport broke ground on the first phase of a $67 million cargo services infrastructure investment to boost its growing cargo business. About 100 acres on the airfield's north edge will be transformed into an air cargo complex. It will be able to accommodate 18 wide-body planes, such as the Airbus A300, a wide-body cargo jet with a maximum payload of over 120,000 pounds. The airport gained state funding in 2023 for a new $9.8 million fuel pipeline to enable it to fuel planes directly. The release said cargo operations have increased and the airport ranks third in Indiana for its freight volume. The release said the bonds will be repaid from existing tax increment revenues created in the Airport Development Zone, ensuring there would be no new taxes levied to service the payments. The bonds were rated by S&P Global Rating at BBB+ and were provided credit enhancement by bond insurer Assured Guaranty Inc. Mesirow Financial was the lead underwriter on the sale, with Taft Stettinius & Hollister LLP serving as bond counsel.
