Illinois Governor signs law to build third airport in Chicago through P3

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Illinois Governor signs law to build third airport in Chicago through P3

Governor Pat Quinn signed on July 25, 2013, a law that will give the Illinois Department of Transportation (IDOT) the power to develop a third major Chicago regional area airport, in Will County (Illinois), through a public private partnership (P3).

Senate Bill 20, sponsored by State Senator Toi Hutchinson and State Representative John Bradley authorizes IDOT to enter into a public-private partnership to develop, finance, construct, manage, operate and maintain the South Suburban Airport.

Illinois has invested about $40 million to date on land acquisition. Governor Quinn's Fiscal Year 2014 budget also includes the remaining $71 million needed to complete land acquisition for the inaugural footprint. The agreement also streamlines the process to acquire the land necessary for the airport's development.

IDOT has produced an Airport Master Plan for the South Suburban Airport that is now under review by the Federal Aviation Administration (FAA). This master plan will be used to create the facility, and officials expect full FAA approval within a few months.

The airport site comprises about 5,800 acres, with about half of the land already acquired under the governor's leadership.

Source: Illinois Government
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