- Briefing Room
|Project Borrower / Sponsor||
Chicago Transit Authority
|Value Capture Techniques||Sales Tax Districts|
The existing 95th/Dan Ryan Terminal is an intermodal transit hub that connects commuters to 13 bus routes and serves as the terminus of the Chicago Transit Authority's (CTA) Red Line. The 9.4-mile Dan Ryan Branch of the CTA Red Line ends at the 95th Street Terminal. This station is integral in connecting residents in Far South Side communities and suburbs to jobs throughout the region. The design of the current terminal leads to overcrowding of passengers and congestion for bus traffic utilizing the station. Due to station configuration, many passengers use terminal areas for street access, posing safety risks to commuters.
The project will rehabilitate the current 95th Street Bus and Rail Terminal, which dates from 1969, with an expanded modern facility. As part of the CTA 2013-2017 Capital Improvement Plan, the Dan Ryan Branch is being fully reconstructed. This project consists of a redesign of the existing terminal to provide more space and improve mobility of passengers in and around the station. Specific project improvements include:
TIFIA Loan - $79.2 million
Illinois DOT - $50 million
Chicago Transit Authority Funds - $47.6 million
RTA Bond Proceeds - $35 million
TIGER Grant Proceeds - $18.2 million
Federal Bus Livability Grant - $10 million
|Project Delivery / Contract Method||
Design-builder (passenger terminals) - Paschen Milhouse Joint Venture IV
|Project Advisors / Consultants||
Architect - exp
To the Borrower
To USDOT JPO
|Lenders||Bondholders, USDOT TIFIA|
|Duration / Status||
Construction began in July 2014 (foundation work). Passenger terminal construction began summer 2016. South Terminal completion expected in 2017; North Terminal completion expected in 2018.
|TIFIA Credit Assistance||
Direct Loan - $79.2 million
TIFIA loan will be repaid with fare box revenue
CTA was awarded a $20 million TIGER IV grant in June 2012.
The TIFIA credit agreement was executed on April 24, 2014.
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