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FAA may rule by year-end on Midway deal
Posted: November 11th, 2008



The Federal Aviation Administration could decide whether to allow the $2.5 billion plan to privatize Midway Airport by the end of this year or early next year, an FAA official said Saturday.

Charles Clark Erhard III, manager of the Federal Aviation Administration's airport compliance division, made his remarks after a sparsely attended public hearing on the privatization, which was scheduled to last five hours but ended after 25 minutes.

The Chicago City Council approved the privatization plan Oct. 8. About $1.5 billion from the deal would be used to pay off Midway Airport debt, fees and other expenses.

State law requires that 90 percent of the $1 billion profit be used to pay for city infrastructure projects and shore up underfunded city pension funds, leaving $100 million to be spent at Mayor Daley's discretion.