With the endorsement of the Chicago Plan Commission, the proposal could head to the Chicago City Council for a final vote in December — even though just one alderperson has signed a letter of support.
A proposal from Mayor Lori Lightfoot’s administration to use property tax revenue generated downtown to fund the $3.6 billion extension of the CTA’s Red Line from 95th Street to the city’s southern border near 130th Street cleared its first hurdle on Tuesday.The Community Development Commission sent the proposal to the Chicago Plan Commission, which is scheduled to consider the issue at its meeting scheduled for Oct. 20, officials said.
While the new train line would stretch from 95th Street to 130th Street, the city’s share of the cost of the construction would come from the growth in property tax revenues generated by properties between Madison and Pershing streets within a half-mile of the CTA Red Line.Ald.
The proposal, which officials said would create 6,000 jobs, also has the support of the politically powerful Chicago Federation of Labor.
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