QUESTION
What are the key outcomes of the 2004 lease agreement and the recent lease extension for the city?
0:18:18
·
115 sec
Jennifer Sun highlights the city's achievements from the recent lease extension, including MWBE participation goals, local business contracts, environmental sustainability, and community initiatives focused on aviation industry exposure for high school students.
- Emphasis on Minority and Women-Owned Business Enterprise (MWBE) participation goals for construction and professional services contracts.
- Prioritization of contract awards to local businesses in prioritized ZIP codes surrounding JFK Airport.
- Inclusion of specific environmental sustainability commitments in the lease agreement.
- Introduction of community initiatives aimed at exposing high school students to the aviation industry, supported by city collaboration with various political figures.
Amanda Farías
0:18:18
I'd like to go over some of questions around the lease terms.
0:18:23
In 2004, the city and the port authority signed a 50 year lease with JFK 4 JFK Airport.
0:18:30
At our last hearing, EDC noted that The Port Authority New York, New Jersey pays 153,000,000 annually with a 3% escalator every year, and that rent goes to the general fund.
0:18:45
In addition, EDC responded that there were traditional remedies if the port authority in New York, New Jersey defaults on payments for rents, having done RFPs for different terminal operators, but determined that the p an y n j is the best one to fulfill these goals.
0:19:04
With that, what were the most important takeaways for this negotiation, for the city.
Jennifer Sun
0:19:13
Although I think on one hand, you know, neither of us were a party to those negotiations in 2004 or in the more recent lease extension.
0:19:22
I think of the question is, what do the city you've got out of the lease extension was recently from 2021.
0:19:28
I think this city working closely with the governor's office, but also with congressman Meeks, and bro president, Richards, together, I think there was a concerted effort to ensure that there are strong in specific MWA participation goals for not only construction contracts, but also professional services contracts that there is prioritization of awarding contracts to local business entities in priority ZIP codes around FK as well as more specific environmental sustainability commitments and a series of community initiatives to support increasing exposure for high school students to the aviation industry.
Amanda Farías
0:20:12
Okay.