City Council approves $959 million funding plan for Red Line extension
CHICAGO (CBS) -- More than 50 years after former Mayor Richard J. Daley vowed to extend the CTA Red Line south from 95th Street to 130th Street, the Chicago City Council took a major step to finally fulfilling that promise.
"It was a long, long, long time coming," Mayor Lori Lightfoot said of Wednesday's City Council vote.
The City Council approved five ordinances creating a new tax increment financing district to provide $959 million in funding toward the cost of the $3.6 billion project. That vote will allow the CTA to leverage as much as $2.2 billion in federal funding for the project.
"It's absolutely needed. It gives us the opportunity to take advantage of historic federal dollars," Lightfoot said.
The Red Line extension will bring rail service to the Far South Side, which has had limited mass transit options for decades.
Ald. Anthony Beale (9th), one of two alderpersons whose wards would be served by the extended Red Line, said Chicago mayors have been promising for decades to extend the Red Line to the Far South Side, ever since Mayor Richard M. Daley first promised to do so in 1969, after the 95th Street terminal opened.
"It's very important that you all understand that our community has been disconnected, and we're looking forward to getting this connection some 50 years later, and I'm just hoping that I'm around long enough to see it," Beale said. "This is another opportunity for everyone to right the wrong; to turn the ship around, and put it in the right direction to make sure that our community gets their fair share."
While Beale voted in favor of creating a new TIF district to finance the Red Line extension, he has criticized the specific funding plan, which will rely on property tax growth over the next 35 years in an area covering a half-mile in either direction from the Red Line between Madison Street and Pershing Road. That means five wards far north of the extended Red Line will be funding the project, while not benefiting directly from the extra service.
That's why Ald. Pat Dowell (3rd), who represents one of those wards, voted against the funding plan. She said, because the project is being touted as a citywide benefit, every ward should be contributing to the funding.
"I support the extension. It's needed. It will benefit a lot of people," Dowell said. "But I want to see everyone contribute to that."
She says her ward - which won't directly benefit from the project - would be forced to contribute $250 million of the $950 million needed.
"I believe that everyone should have skin in the game - not just five wards," Dowell said.
Dowell was the only alderperson to vote against the TIF district for the Red Line.
The project is set to include four stations: 103rd Street and 111th Street near Eggleston Avenue, Michigan Avenue near 116th Street, and 130th Street near the Bishop Ford Freeway, just north of Altgeld Gardens.
The CTA has estimated the project could reduce public transit commute times for the Far South Side by more than 30 minutes.
It's unclear how soon construction could begin.
"I look forward to ribbon cutting, groundbreaking, whatever comes next, but I also wanted to say a special thank you and shout out to the folks in Altgeld Gardens who have been disconnected and cut off, as Alderman Beale said, for far too long," Lightfoot said.