The Chicago Transit Authority has locked down nearly $2 billion in federal funding for the Red Line extension, securing money some worried could be at risk after President Joe Biden leaves office in a month.
The Federal Transit Administration intends to sign an agreement that will contractually obligate the $1.9 billion in federal grants to the project, according to an announcement from Illinois' congressional delegation.
U.S. Sen. Dick Durbin called the funding commitment a "significant milestone."
The lawmakers first announced $1.9 billion in federal funding in September 2023. But some worried the funding commitment could be at risk after Donald Trump became the president-elect in November. Trump has long condemned Chicago. Some worried he may be itching to get back at Mayor Brandon Johnson, who campaigned for Vice President Kamala Harris.
Durbin's news release states the "funding agreement will contractually obligate $1.9 billion in federal funding to the project, solidifying the federal government’s commitment to the project."
The CTA hopes to start on the Red Line extension late next year and finish in 2029. The project includes new stations at 103rd Street; 111th Street near Eggleston Avenue; along Michigan Avenue near 116th Street; and the new terminal at 130th Street near Altgeld Gardens.
The CTA hired a contractor for the project in August while updating the projected cost from $3.6 billion to $5.3 billion. CTA's 2025 budget now estimates the whole project at $5.75 billion.
The CTA said it plans to cover the remainder of the price tag with funding from the state, local transit tax increment financing funds, CTA bonds and other sources.
