Department of Transportation
Privatization of Stewart International Airport: Monitoring of Lease Agreement (Follow-Up Report) In April 2000, the Department of Transportation leased Stewart International Airport to a private corporation (SWFAA) for a period of 99 years. In audit report 2002-S-57, we examined the Departmentís monitoring of the lease agreement and found that certain improvements were needed. For example, a reporting mechanism was needed that enabled the Department to monitor whether SWFAA had made the level of capital expenditures required by the lease. A reporting mechanism was also needed to inform the Department when environmental violations were detected at the airport by the Department of Environmental Conservation. We also found that the Department had yet to be paid $1.5 million by SWFAA for two parcels of land that were remediated by the Department in accordance with the lease. We followed up on the actions taken by Department officials in implementing our audit recommendations and found that some progress had been made, but additional actions were still needed on all of the recommendations.
For a complete copy of Report 2005-F-31 click here.
For a copy of the 90-day response click here.