U.S. Cities For The First Time Could Turn Their Billions Invested In Airports Into Cash For Other Projects

U.S. Cities For The First Time Could Turn Their Billions Invested In Airports Into Cash For Other Projects

The city of Los Angeles could get as much as $17. 9 billion from a long term lease of Los Angeles ... [+] International Airport (show here) to an airport management company. That's according to a new study from The Reason Foundation. After paying off the airport's bonded indebtedness the city could net about $10. 6 billion from the deal, money that could be used to finance other capital-intensive off-airport infrastructure projects or cover any unfunded pension liabilities or other debts the city has. And Reason's study openly admits its value estimates for LAX and 30 other airports around the nation likely are low. SAM LaFOCA/Getty Images More than two dozen local governments around the nation are sitting atop gold mines worth an estimated $131 billion – money they could use to bail out underfunded employee pension plans, prop-up convention and tourism businesses that have been brought low by the pandemic, or even to build new or improve existing city infrastructure like roads and parks. A recent study from the libertarian Reason Foundation suggests cities, counties, regional transportation authorities or state governments that own mid-size and large airports in the United States could access huge amounts of cash by leasing