The Metropolitan Pier and Exposition Authority announced Wednesday it will turn over the popular tourist destination to a new non-profit corporation. It will have a board made up of 13 civic leaders. The corporation will govern and manage Navy Pier.
"The pier is past due for a major revitalization that will require persistence and stability over a five year or longer period," said Jim Reilly, authority trustee.
Reilly says a separate, dedicated civic board is better suited to see through the project.
The Metropolitan Pier and Exposition Authority will continue to own Navy Pier and would have to approve any major physical changes to Navy Pier.