Location |
Chicago, Illinois |
Project Borrower / Sponsor |
Chicago Transit Authority (CTA) |
Program Areas |
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Fiscal Year Approved | Fiscal Year 2015 |
Mode |
Heavy Rail |
Description |
The CTA Blue Line Project (Your New Blue improvement program) is a series of modernization projects along Chicago Transit Authority's Blue Line O'Hare Branch running between the Grand station just outside the Loop and O'Hare station at O'Hare International Airport. This 19-mile stretch of the O'Hare Branch, portions of which date back to 1895, will benefit from various track, power, signals, and station improvements, including:
The improvements are necessary to keep pace with growing ridership, which on the O'Hare Branch has outpaced the rail system as a whole over the past 10 years. The line serves 80,000 customers each weekday and had more than 26 million station entries in 2014. |
Cost |
$408.7 million (Federal project) |
Funding Sources |
TIFIA loan - $120 million City of Chicago Tax Increment Financing (TIF) district funds - $9 million RTA bonds - $19.36 million CTA bonds - $84.57 million State funds - $159.8 million TIGER - $16 million |
Project Delivery / Contract Method |
Multiple contract delivery methods |
Private Partner |
Multiple design-builders |
Project Advisors / Consultants |
PFM - Financial Advisor to the Borrower Charity & Associates - Counsel to the Borrower To USDOT TIFIA JPO:
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Lenders |
Bondholders, USDOT TIFIA |
Duration / Status |
The first phase of the project began with track and station work in 2014. Expected completion of the full program is 2019. |
TIFIA Credit Assistance | Direct Loan: $120 million The TIFIA loan will be repaid through farebox revenues. |
Financial Status |
The TIFIA credit agreement was executed on February 3, 2015. Financial close occurred on February 3, 2015. |
Innovations |
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Related Links / Articles |
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Contacts |
Tom McKone |