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Planning commissioner gets an earful about Lightfoot's plan to create second transit TIF to bankroll Red Line South extension

Published: October 14, 2022

Mayor Lori Lightfoot is pushing for a final City Council vote on her financing plan before Dec. 31 to meet the requirement for federal matching funds. But it could be a rough ride, judging from the earful Planning and Development Commissioner Maurice Cox got aboutthe project while testifying at at a budget hearing.

Source: suntimes.com

Almost $1B in property taxes to be used in CTA funding plan for $3.6B Red Line extension

Published: August 3, 2022

Chicago Transit Authority wants to help fund a long-stalled extension of the Red Line by creating a new tax increment financing district sure to face an uphill battle in the City Council.

Source: fox32chicago.com

$3.6 billion Red Line extension plan would use almost $1 billion in property taxes

Published: August 2, 2022

To extend the Red Line to 130th Street, the CTA hopes to land a $2.16 billion federal grant and must come up with $1.44 billion to match it. To do that, it plans to raise $950 million through a special tax district for transit projects.

Source: suntimes.com