Reminder

Every once in a while I need to remind myself, especially after reading the 12 days of X-mas (which I did not write), as to why this blog exists.

First, the airport is huge (1300 plus acres) and has an infrastructure that has cost many millions of dollars to build. How many millions?? Between the terminal, the runways and the various buildings, I bet you at least $30,000,000.. In current dollars if you were to buy a parcel of land (1300 plus acres) and install the same infrastructure in a city like Worcester--maybe more like $100,000,000...

Second, it is an asset to the tax-payers of Worcester. More importantly, the question is has it been an asset?? No, it has not!!! Not only has it not been an asset (Enterprise Account), but it has been a liability. We can not blame MassPort, or anyone else, but ourselves, for it not being the asset that it should be. We all need to figure out how we can make this under-performing asset truly the asset that it should be.

Third, we are at an extremely critical junction with 6 months left in the second operating agreement (3 years) with MassPort, that followed an initial 5 year operating agreement. I believe the next decision that we make effective July 1st, 2007, will determine whether or not this asset will 1) provide a return to the tax-payer or 2) continue as a drain over the next 20 years.

We have 6 months to get this right. Lets hope we have an open discussion of all the options now and do not rush into a decision on June 30, 2007. In the end, we all want the same thing-- an airport that contributes, not detracts, from the bottom line. Time will tell if we get this right.