A proposed $3.6-billion extension of the Chicago Transit Authority’s (CTA) Red Line into communities on the city’s far South Side is not a done deal, but a strategy to pay for about a quarter of it has moved forward.
The Chicago City Council on Dec. 14 voted to establish a CTA Red Line Transit TIF District, a new transit tax-increment financing district. It is expected to generate about $959 million to fund the project that would extend the Red Line 5.6 miles from the existing station at 95th Street and the Dan Ryan Expressway to 130th Street.