"Peotone Move-Out Date"

Wednesday, October 9, 2002

Move-Out Date
Bond Buyer - The American Banker


The state has sent out warnings to property owners whose land is needed
to make way for a third regional airport near Peotone that they face a
60-day deadline to reach an agreement to sell their property. 

Illinois will condemn the land and acquire it through its powers of
eminent domain if an agreement is not reached. The state is seeking to
make way for a 4,200-acre, one-runway starter airport with room to
expand. Peotone is located about 45 miles southwest of Chicago. 

The state began setting aside funds to buy the land several years ago
and began contacting property owners last year. The project is still
being reviewed by the Federal Aviation Administration and the state has
not yet outlined a specific financing plan, though officials have
previously said it would be paid for through a mix of bonds, federal
grants, and private financing. 

Peotone airport opponents responded angrily last week to the notices,
accusing the state of using intimidation tactics to bully property
owners into making room for an airport that is still a long way from
being built.


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