CHICAGO — The Chicago Transit Board approved a $1.57 billion operating budget Wednesday to continue the modernization of the city’s rail and bus system.
The CTA received a significant funding commitment in 2019 with the passage of the state’s “Rebuild Illinois” capital bill.
The board said the 2020 budget will ensure that the CTA continues to make improvements aimed at providing customers faster, smoother and safer public transit services.
“CTA’s FY2020 spending plan is a sound financial blueprint that reflects forward-looking policy and operational goals that will provide our customers with the quality bus and rail service that they expect and deserve,” said Chicago Transit Board Chairman Terry Peterson.
A $5.1 billion, five-year capital budget was also approved Wednesday for 2020-2024.
It will allow the Chicago Transit Authority to build upon more than $8 billion of transit projects begun, announced or completed since 2011.
Those projects include rehabilitating rail stations and building new ones, modernizing rail and bus fleets, removing rail slow zones and adding new technologies.
Specifically, the CTA plans to overhaul the Cottage Grove green line station and provide upgrades at O’Hare’s blue line station.
CTA will also invest $310 million into the Red Line Extension (RLE) project, a $2.3 billion initiative that will extend the Red Line South by 5.3 miles and include four new, fully accessible stations at 103rd Street, 111th Street, Michigan Avenue and 130th Street.