CHICAGO-City officials say that construction on the $800-million project to consolidate all rental car companies under one roof at O'Hare International Airport will begin this upcoming spring.

The project will also include a new remote public parking garage and an extension of the light rail People Mover to other facilities. Chicago Mayor Rahm Emanuel announced on Friday the final action on a $288-million federal TIFIA loan. The balance of the funding for the venture will come from airport bonds and an $8-a-day-tax on care rentals at the airport that has been collected since 2010, according to the Chicago Tribune.

“O'Hare is a key driver of Chicago's economy, and by utilizing innovative Federal financing for this project we are driving economic growth and job creation, while ensuring that O'Hare is at the forefront of sustainability, efficiency, and productivity,” Mayor Emanuel stated. “This intermodal facility is one of the largest capital improvements constructed at O'Hare, and will further Chicago's ongoing efforts to make O'Hare the most convenient international travel hub in the world.”

The project is scheduled to be completed in 2016 and is projected to create is 3,000 construction jobs and 100 permanent car rental and concessions-related jobs once completed. See story in the Chicago Tribune.