Chicago City Council approves Transit TIF district to fund CTA Red Line extension

The Chicago Transit Authority’s (CTA) planned expansion of the Red Line to the far south side of the city received a funding boost from the Chicago City Council with the approved establishment of a Transit Tax Increment Financing (TIF) district.

The Transit TIF will fund a portion of the CTA Red Line Extension (RLE), the $3.6 billion extension from the Red Line’s current terminus at 95th Street to 130th Street. The 5.6-mile project is described as a critical and transformative investment in the far south side of Chicago, an area that is underserved by transit. The project will open far south communities to more job and economic development opportunities and save up to 30 minutes of travel time between those communities and downtown Chicago.

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"The Red Line Extension project represents one of the most critical investments in CTA's history and will undoubtedly be a transformative development for our far south side community," said Chicago Mayor Lori E. Lightfoot.

An extension to 130th Street has been under consideration since 1958 and the far south side, which consists of predominately Black and Brown neighborhoods, is the only major portion of the city lacking a CTA rail line. .............(more)

https://www.masstransitmag.com/rail/infrastructure/article/21290129/chicago-city-council-approves-transit-tif-district-to-fund-cta-red-line-extension