Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 8, 2009

Project Name: Monetization of Midway Airport (Chicago)
Year in Operation:
Sector: Transportation
Subsector: Airport, Transportation Terminal
Status: Project Definition / Programming
Type: Repositioning of Existing Facility
Description: Abandoned in May, 2009. Proposed long term lease of Midway Airport, including all of the exclusive rights to operate and to collect all revenues associated with the operation of Midway, including aeronautical, concession, PFC revenues and federal grants. Current facility includes 43 gates and serves approx. 20 million pax per yr.
Delivery Method as described in the country where it's located: Concession
Is the project still active: Yes
Comments: Proposed asset monetization of the Midway Airport, called a concession and a PPP.

Project Locations

Address:
City: Garfield Ridge
State: Illinois
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Land: Existing airport.
Checkbox Checked Access to Land: Existing Airport on City of Chicago site.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Revenues as may be collected by potential concessionaire over length of the term of concession.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: Not determined when project abandoned in May, 2009.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Not determined when project abandoned in May, 2009.

Checkbox Checked

From Producers as Equity: Not determined when project abandoned in May, 2009.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
50
0
Forms
Description
Other
Prepared by City of Chicago. 

Project Value (If and As Known)

Date of Estimated Project Value: May 1, 2009
Project Value
Hard Cost
Hard & Soft Costs

Project Value Unknown or not Provided

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