Story URL: http://news.medill.northwestern.edu/chicago/news.aspx?id=100213
Story Retrieval Date: 5/19/2013 5:42:52 AM CST
Top Stories
Study: Lack of tree cover in minority communities increases heat risks

Cabrini rowhouse revamp stirs up lawsuit

US Latinos who speak English more likely to exhibit cancer-risk behavior, study says

Mobile banking growing

Menopause management website launches, personalizes care
Features
Disney officials retreat after glam makeover of Disney princess Merida sparks protest

Pot for pups

Health department billboards show pregnant teen boys

New options may increase use of female condom, experts hope

Chicago students transform struggle into poetry
Chicago Life
Water-scarcity solutions require new thinking, new technologies, expert says.

US Latinos who speak English more likely to exhibit cancer-risk behavior, study says

New options may increase use of female condom, experts hope
Video
Some Chicago schools address nutrition with healthier offerings

Rising tide lifts all boats: Why River Walk development will benefit restaurant industry

Bronzeville parents march in protest of CPS school closures
Arts
Fruits to bloom with spring

Teachers become the students at biotechnology symposium

NASA hits set back in search for extraterrestrial life
Business
4th ward is rejuvenated by community development corporation

Mobile banking growing

Consumer Price Index falls on gas decline, sparks deflation concerns
midway airport

Photo courtesy Flickr

 With the City Council vote, Midway Airport will soon be come the forst major U.S airport to be run by a private firm.


Council fusses, blusters -- then follows Daley's lead

by Daniel Lambert
Oct 08, 2008



 

Ald. Burke describes Midway's early history.


Related Links

Aldermen push for minority share of Midway privatization deal

Chicago aldermen got the complicated, precedent-setting plan Friday night. They raised objections Monday and Tuesday. They passed it unanimously Wednesday.

The Chicago City Council adopted a lease agreement giving a private investment company ownership of Midway Airport for 99 years. The deal is worth $2.521 billion and gives the city approximately $1 billion after debts are paid off. Aldermen raised some concerns about the agreement, but ultimately approved it without a single vote of “no.”

“We found out about this deal after it was in the newspaper, three days before we sit down and talk about it, and then we are on an obstacle course trying to figure it all out,” said Ald. Walter Burnett, Jr. (27th).

“I think it’s a good deal, but I don’t like the way it is being pushed down our throats.”

Several aldermen expressed discomfort not knowing how the money from the deal would be spent. Mayor Richard M. Daley has made it clear that a large portion of the money would be devoted to the city’s struggling pension fund, but hasn’t said how he wants to spend the rest.

“Our pension funds are also in a state of crisis made worse by the recent down turn in the stock market,” said Ald. Joe Moore (49th).

There will be competing interests as aldermen try to secure funds for their respective wards.

“Everybody needs something and, I hope everyone will have the opportunity,” said Ald. Dick Mell (33rd).

Aldermen also raised concerns about a lack of minority investors in the lease agreement at both Wednesday’s full council meeting and Tuesday’s committee meeting.

“We cannot afford to do these kinds of deals where the minorities are not involved in the package,” said Ald. Ed Smith (28th).

The 49-0 vote was a clear sign that the Council, despite concerns, sees the lease agreement as a net positive for the city.

“We are, I believe, fortunate to have this opportunity,” said Ald. Ed Burke (14th).

The Midway Investment and Development Company, LLC, an investment group of three companies, will take control of the airport after a final agreement is approved by the Federal Aviation Administration. The city hopes to obtain final approval before the end of the year, Daley said in a written statement.

Ald. Thomas Allen (38th) cautioned that while the deal brings a large revenue stream into city coffers, it is not a cure-all.

“This is not the silver bullet,” Allen said.