January 12, 2007

169 Days Left

There is not alot of time left. Since we it definately looks like we never will put together an RFP for the entire airport, we only have three options:

  1. downgrade to GA airport and cover the operating deficit ourselves (guessing $1,000,000/yr)
  2. continue current operating agreement keeping ORH as a commercial airport (guessing MassPort would only continue at the 67% level (that would still cost the City of Worcester approximately $1,000,000 per tear).
  3. long-term lease or sell ORH to MassPort (out of pocket costs would be zero)
We will end up going with #3 and we will never know whether we are getting fair market value and what potential opportunities were missed.

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