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RCED-00-275R 1 (2000-09-29)

handle is hein.gao/gaocrptamam0001 and id is 1 raw text is: United States General Accounting Office Resources, Community, and Washington, DC 20548 Economic Development Division B-286088 September 29, 2000 The Honorable Henry J. Hyde The Honorable Jesse Jackson, Jr. House of Representatives Subject: Airport Financing: Use of Funds for Capital Improvements at Chicago O'Hare International Airport This report responds to your concerns about the funds provided and spent at Chicago O'Hare International Airport for capital improvements in light of the questions you have raised about the capacity of the airport system in the Chicago area. Specifically, you asked us to determine funding sources for capital improvements at Chicago's O'Hare International Airport from 1990 through 1999 and the type of projects this funding was spent on. As agreed, we focused our work on the following four funding sources: * the Airport Improvement Program (AIP), a grant program administered by the Federal Aviation Administration (FAA). Historically, somewhat more than 50 percent of this funding has been allocated on the basis of formulas mandated by the Congress, although FAA has discretionary authority to allocate part of the funds on the basis of specific needs identified by airports. If all formula changes associated with funding AIP at levels authorized in AIR 211 are implemented, the share of AIP allocated by formula would increase above 60 percent. * passenger facility charges (PFC), a per-passenger fee levied on each passenger enplaning at the airport. Airports have more flexibility using these funds than using AIP, although FAA still must approve an airport's application to impose this fee, as well as the total amount to be collected and the projects to be funded with the proceeds. * General Airport Revenue Bonds (GARB) issued by the city of Chicago, which owns and operates the airport. These bonds are secured by a pledge of the general revenues of Chicago O'Hare International Airport. 1 The Wendell H. Ford Aviation Investment and Reform Act for the 21 Century, P.L. 106-181, signed April 15, 2000. GAO/RCED-00-275R Airport Financing at Chicago's O'Hare Airport

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