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Chicago's RTA authorizes bond issue for state-of-good repair projects


The Chicago Regional Transportation Authority's (RTA) board recently authorized the issuance of up to $100 million of general obligation bonds to finance state state-of good-repair projects to bolster infrastructure for the Chicago Transit Authority, Metra and Pace.

"Our region needs approximately $33 billion to bring the existing system to a state of good repair," said RTA Chairman John Gates Jr. in a press release. "The RTA is meeting a portion of the need with this bond issuance."

The bonding will fund projects for rolling stock, track and structure, electrical signal and communications, and stations and passenger facilities, RTA officials said.

Last month, all three of the nation's major bond rating services rated the RTA double-A with stable outlooks, they said.

Meanwhile, the RTA appointed three new members to its recently expanded Transit Access Advisory Committee. Scott Hennings will represent McHenry County; David Ogunbode will represent Chicago; and Jackie Reuland will represent DuPage County, replacing Chris Ludwig. Hennings and Ogunbode will occupy newly added seats.

Hennings is a transportation planner at the McHenry County Division of Transportation; Ogunbode is executive director of Community Service Options Inc.; and Reuland is manager of the Center for Access and Accommodations at College of DuPage.

Contact Progressive Railroading editorial staff.

More News from 2/4/2014