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Chicago & Midwest  + South Side  | 

Lawmakers Okay $4B in O’Hare Expansion Bonds

As the full City Council prepares for Wednesday’s vote on final approval of the $8.5-billion expansion of O’Hare International Airport, the council’s Finance Committee has set additional funding in place for the project. The committee voted Monday to authorize the issuance of $4 billion in general airport revenue bonds and passenger facility charge bonds.

JP Morgan Chase, Citi Bank and Loop Capital Markets will serve as senior managers on the new bond issue. It will be in addition to $8 billion in outstanding bonds to build new runways and make other improvements to the airfield.

Up next will be a vote Tuesday by the Aviation Committee to authorize an oversight commission that would supervise the entire O’Hare expansion project. In particular, the commission would be tasked with ensuring that women and minorities are properly represented in jobs and contracts.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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