In the meeting that was held this morning, the old airport site was awarded to the Pittsburgh-based group, PCA Development. The final price was $99 million with $61 million at closing and $38 million over the next 30 years to come from land/property sale proceeds.
Part of the deal includes a letter of credit from PCA that the airport authority will be able to borrow against during construction of the new airport.
The old airport site is 715 acres. Google maps location.Print Story