Thursday, December 17, 2015

Chicago Rockford International Airport (KRFD) authority to decide whether to approve $17 million loan from local banks

ROCKFORD (WREX) -

The Rockford airport authority will have its first chance to approve a multi-million dollar loan signed by five banks last week.

Representatives from the financial institutions already signed the paperwork, but are now waiting on airport officials to approve the loan.

Together, the banks are extending a $17 million line of credit to the Chicago Rockford International Airport. The money is intended to keep construction going for an airport maintenance and restoration facility, known as the AAR project.

The project is in danger to be halted due to a halt on promised funds by the state. The airport commissioners will meet at 5 p.m. on Thursday, where they are expected to discuss the loan.

Source: http://www.wrex.com

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