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Yesterday, the Chicago Transit Authority (CTA) board passed a resolution establishing the authority’s capital funding needs through 2011.
CTA officials determined the agency needs $6.1 billion in capital funds during the next five years to replace aging fleets, retrofit rail cars with security cameras, rebuild stations, upgrade the public-address and signal and communications systems, and extend the Red, Orange and Yellow lines.
In August, CTA submitted its capital needs to the Regional Transportation Authority (RTA), which used the information to compile a “Moving Beyond Congestion” report. However, the final report only identified $5 billion in capital funds for CTA. The authority’s resolution suggests the RTA consider cost effectiveness, land use and other federal standards when analyzing proposed transit projects.
2/15/2007
Rail News: Rail Industry Trends
CTA reiterates need for $6.1 billion in capital funds over five years
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Yesterday, the Chicago Transit Authority (CTA) board passed a resolution establishing the authority’s capital funding needs through 2011.
CTA officials determined the agency needs $6.1 billion in capital funds during the next five years to replace aging fleets, retrofit rail cars with security cameras, rebuild stations, upgrade the public-address and signal and communications systems, and extend the Red, Orange and Yellow lines.
In August, CTA submitted its capital needs to the Regional Transportation Authority (RTA), which used the information to compile a “Moving Beyond Congestion” report. However, the final report only identified $5 billion in capital funds for CTA. The authority’s resolution suggests the RTA consider cost effectiveness, land use and other federal standards when analyzing proposed transit projects.
