NYC extends JFK airport lease, paving way for modernization

New York City extended the lease on John F. Kennedy International Airport to 2060, adding 10 years that will ease the way for the Port Authority of New York and New Jersey to finalize financial arrangements for $15 billion in modernization projects. “We’re going to do it with a package of actions that will make sure there is economic empowerment, that a lot of the wealth generated in JFK gets redistributed in the surrounding communities,” said Mayor Bill de Blasio, noting the new lease’s requirements include employee and contractor diversity and local hiring.