Stewart handover awaits lease revision
Source: By Hank Gross, Daily Freeman (NY), 09/27/2007
NEW WINDSOR - The Port Authority of New York and New Jersey intends to take over the operation of Stewart International Airport on Nov. 1, but before that can be accomplished, a number of steps must be completed.
The state Transportation Department, the airport's owner, is in the process of revising the operating lease, which was written for National Express Corp. about six years ago. The remaining 93 years of that lease is being sold to the Port Authority.
......The Port Authority is paying $78.5 million for the remainder of the airport lease. National Express paid $35 million for it in 2001.