From the Daily Breeze on 9/1/17
In December 2006, the city worked out a public-private deal with real estate investors Wedgewood Properties, Kearny Real Estate Co. and Howard CDM to improve the property.
The companies are paying for new hangars and facility improvements, and will share profits from hangar rentals and other fees with the city.
The investment group funded a $1.2million refurbishment of the airport lobby and offices last year. They also brought in Million Air, a national company that provides airport and pilot services, to operate the airport’s restaurant, lobby, shuttle service to Los Angeles International Airport, airplane parking and fueling, and hangar maintenance, among other things.
They are also paying for dozens of new hangars in the next few years, said David Wehrly, vice president of Wedgewood Properties.