Quote:
Originally Posted by pottebaum
Isn't that like A LOT of money?
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For a 5-year plan, after 4 years of zero state funding? Assuming this is the matched amount (i.e. the total amount available in state+federal money and not the state-only amount), this is more or less back to status quo, which is close to but still below the amount needed to reach and maintain a "state of good repair" on the CTA transit system, following several dry years (2006-2009) whose capital expenditures were paid for by borrowing against the future with interest since there was no state capital money available.
I mean, yes it's way better than nothing, but this is no quantum leap in transit funding for Illinois - it's more like a return to the Illinois FIRST years of 1999-2005, which indeed saw many important renovation projects.
EDIT: an article this morning suggested that the $2.7 billion is only the state share which would match $2.7 billion in federal money - if true, then this is indeed a very good day for Chicago area transit. I'll hold out before concluding that's the case though, because previous news articles had suggested $1.8 billion for statewide transit and $1.4 billion for Chicago-area transit, which would correspond to a matched amount of around $2.7 billion.