Rockford To Get Bigger Airport Loan Until Funding Secured
ROCKFORD, Ill. (AP) — The state government's budget impasse has forced Rockford's airport to seek another $4 million from lenders to keep contractors at work on a jet repair facility scheduled to open this spring.
The $40 million maintenance hangars at Chicago Rockford International Airport will house aviation services company AAR Corp. and employ hundreds.
The Rockford Register Star reports commissioners from the airport's governing body on Thursday granted approval to double a line of credit with its lender from $4 million to $8 million.
The money will provide a bridge financing tool during the budget stalemate in Springfield.
Gov. Bruce Rauner's administration is withholding $15 million in state funding for the project and says it wants a written guarantee the federal government will make good on its $10 million share.
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