The CTA once again is tapping a local TIF fund to pay for station improvements, this time at the Red Line Berwyn station.
The CTA is entering into anagreement with the city to receive $1,173,768 in Tax Increment Financing (TIF funds) for station improvements made at the Red Line Berwyn station. CTA this year made improvements at the Berwyn station, which is located within the City's Edgewater TIF District. The work performed was a TIF-eligible expense.
Says a CTA spokesperson: "The agreement would allow CTA to be reimbursed through TIF funding and free up scarce capital resources to improve other parts of the system and helps the agency continue to move toward its goal to reach a state of good repair.
Specific improvements included:
- Replacing the canopies and lighting.
- Repainting the canopy support columns.
- Replacing the plaster columns and installing new ceilings.
- Installing concealed gutter systems inside the stationhouses.
The CTA also has recently used or are eligible to use TIF funds for the Loop signal project, subway escalators and Howard station projects.
- Loop Signal Project, which involves replacing the signal and train control systems at Lake/Wells and Van Buren/Wabash, two of the busiest junctions where Brown, Orange, Green, Purple and Pink Line trains enter/exit the Loop, used $17.4 million in Central Loop TIF funds for a portion of the work.
- Subway Escalator Project, which replaced nine escalators in the Red and Blue Line subways, used $4.8 million in Central Loop TIF funds.
- Howard Station Renovation expects to use $4.4 million in Howard-Paulina TIF funds for a portion of the work (repair concrete retaining walls, foundation walls and viaduct; stair enclosures at platform level and to extend the canopy).
I for one am happy to see TIF funds used for such public transit projects, and not to just help a well-heeled private developer make more money on a project.