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Rail News: Financials

CTA calls for new stations, rail cars in $3.5 billion capital budget


The Chicago Transit Authority (CTA) yesterday proposed a $3.5 billion five-year capital budget, along with a $1.5 billion operating budget for 2017.

The capital plan would provide funds for rehabilitating rail stations and building new ones, modernizing rail and bus fleets, removing rail slow zones and adding new technology, CTA officials said in a press release.

Over the five-year period, the agency would allocate $216 million for purchasing new rail cars, $70 million to rehab the Blue Line's O'Hare Branch and $36 million to replace or upgrade power distribution and signals, according to the budget document.

Meanwhile, the operating budget freezes base fares for the eighth consecutive year. To do that, the agency has reduced ongoing maintenance needs by modernizing fleets, pre-purchasing diesel fuel and electricity at historically low levels, and through "responsible spending practices," CTA officials said.

CTA will host a Nov. 14 public hearing on the proposed budgets.

Contact Progressive Railroading editorial staff.

More News from 10/25/2016