Airport Closes Funding GapPosted: Updated:
The Gary/Chicago International Airport Authority has unanimously voted to borrow up to $35 million to close a funding gap on a $174 million expansion. The airport now has enough money to move railroad tracks and expand the runway. The Gary/Chicago International Airport released the following statement:
"Based on preliminary engineering estimates from AECOM, the runway expansion project at the Gary/Chicago International Airport is estimated to cost $174 million to complete. Environmental issues are the driving force behind this 4.8 percent increase which could not be accounted for until work was underway on-site. The Authority continues to work with key stakeholders to complete this critical infrastructure project in the region and ensure the delivery of a quality product at the Airport."
Source: The Gary/Chicago International Airport Authority