Update: Chicago Red Line Extension TIF Approved

[A December 14 article by Fran Spielman updates this story with the news that the TIF was approved by the city of Chicago.]

“A decadeslong plan to extend the Chicago Transit Authority’s Red Line south to 130th Street passed out of the City Council’s finance committee Monday with only one alderperson rejecting the plan, which will go before the full City Council this week,” reports Claudia Morell for WBEZ.

The project will be financed in part by tax increment financing (TIF), contributing $950 million toward the total price tag of $3.6 billion. The City Council needs to approve the TIF by the end of the year to tap into federal money for the project, according to Morrell. Some alderman are concerned that the state isn’t contributing to the project. Some local residents expressed concern about how the project would affect their property tax bill, according to the article.

“The 5.6-mile extension would add four new stations near 103rd Street, 111th Street, Michigan Avenue and 130th Street. The rail line would be elevated from 95th Street, where it runs along the highway, and will connect areas such as the Roseland medical center and commercial corridor,” explains of the project.

As noted by Planetizen in September when the project cleared environmental review, the Red Line is expected to be a game changer for neighborhoods long underserved by public transit.

More from Planetizen on the Red Line extension:

• One Big Step Forward, One Small Step Back for Chicago Red Line Extension (December 2020)
• Red Line Extension Plans Released in Chicago (January 2018)