Gary Airport Board OKs temporary expansion financing
By Michelle L. Quinn Post-Tribune correspondent June 25, 2012 1:58PM
Updated: June 26, 2012 10:19AM
GARY — The Gary/Chicago International Airport tax increment finance district is getting tapped to pay runway expansion bills.
The Airport Authority at its Monday meeting voted 6-1, with board member Silas Wilkerson casting the lone “no” vote, to authorize a temporary interfund loan of $12 million from the TIF to the cumulative building fund. The loan will be paid back with a portion of the $30 million the airport expects to receive from the Regional Development Authority.
“The grant approved by the RDA is not yet complete,” Interim Airport Director Steve Landry told the board.
Wilkerson said he voted against the loan because he believes the TIF monies are supposed to be a backup and not to be touched until all other avenues are exhausted.
Runway construction, in the meantime, is going well, project manager Scott Wheeler told the board. While there have been some slowdowns with regard to moving utilities, the project as a whole is “doing quite well.”
With regard to his progress report to the board, Wheeler said the coffer dam around the ditch has been removed from the EJ&E railroad relocation site. He requested a change order for additional stabilization on the mbankment retaining wall along the Toll Road. The board approved the change order 7-0.