Chicago to Explore Leasing Midway Airport, Emanuel Says

http://www.businessweek.com/news/20...ore-leasing-midway-international-emanuel-says

The decision by Emanuel, who has criticized a 75-year lease of the city’s parking-meter system pushed by his predecessor, Richard M. Daley, revives an idea that died in 2009. The new proposal envisions a lease of fewer than 40 years, and the city would retain ownership. The airport is Chicago’s second-biggest, behind O’Hare International.

The city said it will submit a preliminary application to the Federal Aviation Administration that would preserve a slot to make such a deal through the Airport Privatization Pilot Program. Emanuel described the move as “exploratory” and said no decisions have been made about leasing the facility. Initial proceeds would be used to pay debt that Chicago issued in 1996 to rebuild Midway.

Read More: http://www.businessweek.com/news/20...ore-leasing-midway-international-emanuel-says