SENATOR CHRIS LAUZEN CONGRATULATES THE CITY OF CHICAGO ON CLOSING THE SKYWAY SALE

Tuesday, January 25, 2005

By Senator Chris Lauzen

SPRINGFIELD (January 25, 2005)-- Yesterday the City of Chicago closed the deal to long-term lease the Chicago Skyway to Cintra-Macquarie Consortium by receiving a lump-sum payment of $1,830,000,000 (Billion). The increased revenue as well as public service improvements that usually follow a shift from government to private enterprise will be welcomed benefits to the city and those who travel the 7.8 mile roadway connecting Chicago and Northwest Indiana. "This massive infusion of revenue should relieve pressure to increase property taxes." Lauzen says.

"Approximately three years ago I had the pleasure of sponsoring legislation with Senator Molaro in the Illinois General Assembly regarding the Skyway in SB2319 and HB1276, which eventually became Public Act 92-0844. This legislation, allowed the City of Chicago to lease toll road/toll bridge properties to non-exempt entities for operation purposes and for the lessee to retain the exempt status of that property." said Lauzen.

Lauzen concluded, "We anticipated then an enormous value to the people of Chicago and the surrounding region of such a long term lease of the Skyway. The city obviously has made the most of this opportunity and I'm glad to see the fruits of this legislation realized. $1.83 Billion will go a long way."