Red Line Extension takes major step forward
This week a key hurdle has been cleared to bring high-quality rapid transit to Chicago’s far South Side.
Chicago City Council’s approval was nearly unanimous for a “transit TIF” that leverages the property value realized from investments already made in places like the South Loop and Chinatown.
This local TIF (tax increment financing) funding provides the match funding needed to unlock the investments from federal sources.
Once completed, Chicago’s major north-south L line will extend to the southernmost neighborhoods and fulfill a decades-old promise.
Tags: Advocacy, Chicago South Side, Transit Equity