The Chicago Transit Authority has locked down almost $2 billion in federal funding for the Crimson Line extension, securing cash some frightened may very well be in danger after President Joe Biden leaves workplace in a month.
The Federal Transit Administration intends to signal an settlement that can contractually obligate the $1.9 billion in federal grants to the challenge, in accordance with an announcement from Illinois’ congressional delegation.
U.S. Sen. Dick Durbin known as the funding dedication a “important milestone.”
The lawmakers first introduced $1.9 billion in federal funding in September 2023. However some frightened the funding dedication may very well be in danger after Donald Trump turned president-elect in November. Trump has lengthy condemned Chicago. Some frightened he could also be itching to get again at Mayor Brandon Johnson, who campaigned for Vice President Kamala Harris.
Durbin’s information launch states the “funding settlement will contractually obligate $1.9 billion in federal funding to the challenge, solidifying the federal authorities’s dedication to the challenge.”
The CTA hopes to start establishing the Crimson Line extension late subsequent 12 months and end in 2029. The challenge contains new stations at 103rd; 111th Avenue close to Eggleston Avenue; alongside Michigan Avenue close to 116th Avenue; and the brand new terminal at a hundred and thirtieth Avenue close to Altgeld Gardens.
The CTA employed a contractor for the challenge in August whereas updating the projected price from $3.6 billion to $5.3 billion. CTA’s 2025 price range now estimates the entire challenge at $5.75 billion.
The CTA says it plans to cowl the rest of the value tag with funding from the state, native transit tax increment financing funds, CTA bonds and different sources.
