Red Line Extension Federal Transit Administration Financial Plan for Capital Investment Grant Program
InfraStrategies is supporting CTA with financial planning support services for the Red Line Extension (RLE) Project, a proposed 5-mile extension of the Red Line south to 130th Street. The team is currently leading the development of the financial plan and supporting documentation for the $3.6 billion Red Line Extension (RLE) Project. InfraStrategies team members previously supported the CTA with a similar scope of work to advance the CTA Red and Purple Modernization Line through to a successful FTA Core Capacity grant in January 2017. The $2 billion project had a similar financial strategy to the RLE project, including a combination of FTA funds (Core Capacity and formula funds), Federal Highway Administration Funds (CMAQ), sales tax revenue bonds, and a TIFIA loan backed by the implementation of a Tax Increment Finance (TIF) District along the corridor.
The RLE Project entered the New Starts Project Development phase in December 2020. In 2023, following the approval of the RLE Transit TIF by the City of Chicago, RLE entered into the Engineering phase of the New Starts program, locking in nearly $2.0 billion in future New Starts funding.