Chicago City Council aldermen are expected to pass a nearly $1B spending bill for the long-anticipated CTA Red Line extension Wednesday.
Chicago City Council aldermen are expected to pass a nearly $1 billion spending bill Wednesday to extend the CTA Red Line.
Downtown Ald. Brendan Reilly has raised serious concerns about committing nearly $1 billion in TIF money to expand a CTA system plagued by violent crime and spotty service. Calling Monday's vote "one of the biggest visionary decisions" the City Council will make, Carter told alderpersons, "I wish I had other places I could go. I'm happy to talk to you about where I went. But right now, today, at this moment, I need the help of the City Council to make this project a reality."
Beale argued that creating an even bigger version of the mass transit TIF that funded the Red-Purple Modernization Project lets the state of Illinois off the hook. The new TIF district is controversial because it would cover a half-mile on either side of the Red Line between Madison Street and Pershing Road, and use property tax growth over the next 35 years to help pay for the extension.
"Because these benefits are citywide, everyone should have skin in the game of paying for this project. This has to include the entire city, including the state of Illinois and Cook County. It cannot be five wards. That's porting on steroids. ... This takes money from one area of the city and ships it miles away from the residents who generated the funding and live in these communities that still have many issues that need to be addressed.
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