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Board approves financing and lease assignment for John Wayne Airport improvements with Clay Lacy arrangement
Summary
The board approved a public‑hearing resolution authorizing revenue obligations to finance up to $120 million in John Wayne Airport improvements, an amendment to a Clay Lacy fixed‑base lease, an assignment of lease interest and related guarantees; the measure passed after debate about private financing and county risk.
At a public hearing, the Orange County Board of Supervisors on Dec. 2 approved a package of actions enabling private financing for improvements at John Wayne Airport and changes to the operator arrangement with Clay Lacy Aviation.
Vice Chair Katrina Foley moved the item and told the board the action would allow Clay Lacy to finance up to $120,000,000 in improvements including a new terminal, hangars and office space and that "none of these private equity…
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