Push to Use Downtown Property Taxes to Fund Far South Side Red Line Extension Clears First Hurdle – WTTW (Chicago)

The proposal from Lightfoot’s administration would create a new tax-increment financing district along the southern branch of the CTA Red Line to generate $950 million for the project by funneling a portion of the increase in property tax revenues for the next 25 years from the 42nd, 3rd, 4th, 11th and 25th wards — even though the extension of the train line would be miles away from any of those wards.
7 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
GM
3 years ago

Like Kalifornia’s “High – Speed Rail”, another “train to nowhere”…All this will do is enable the Red Line to become a worse sewer than it already is… a pipeline for even *more*criminal cockroaches to skitter around and infest the city…

debtsor
3 years ago

95th street is a long train ride to downtown. Extending it to 130th street at I-94 seems insane. That’s the Gardens. The infamous Altgeld Gardens. The last stop on the extension will be the projects. Across the street is a water reclamation plant. The other three stops are Roseland, West Roseland, and West Pullman, arguably some of the most dangerous neighborhoods in all of Chicago. Who in their right mind is going to travel into these neighborhoods to catch a train? This extension is nothing more than equity. These neighborhoods haven’t been even middle class for 50 or 60 years… Read more »

GM
3 years ago
Reply to  debtsor

Oh, just consider the “ROI”, lol…

Mary Juana
3 years ago
Reply to  debtsor

Correction, Alligator Gardens!

Giddyap
3 years ago

CTA Wants To Rob Downtown Taxpayers For A South Side Train Boondoggle — EVEN THOUGH CTA RIDERSHIP IS MOSTLY GONE FOR GOOD — AND EVEN THOUGH WORK FROM HOME HAS CONVINCED MOST COMMUTERS TO STAY REMOTE, AND AVOID CRIME-INFESTED CTA

Old Joe
3 years ago

They should extend it to a red state so we can leave this progressive utopia faster.

Ataraxis
3 years ago

Look how easy it is to spend Other People’s Money on a train to nowhere.
There really is no good news coming out of Chicago. It’s one mess after another.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

Read More »

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE