Feds Pledge $1 95B to Fund Far South Side CTA Red Line Extension wttw.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wttw.com Daily Mail and Mail on Sunday newspapers.
The move will generate $959 million for the project by funneling a portion of the increase in property tax revenues for the next 35 years from the 42nd, 3rd, 4th, 11th and 25th wards even though the extension of the train line would be miles away from any of those wards.
The city must match an expected federal grant of $2.16 billion before the first track can be laid and the City Council set set to give the project signal clearance Wednesday.
This extension will support the economic engine of the state, creating jobs, expanding economic development and industry, contributing to state coffers and bringing people back to Chicago and Illinois to live, work, raise families and invest.