Thursday, January 3, 2008

Daley won't use Skyway money for CTA

This was floated with regards to the CTA funding crisis. Mayor Daley put the nail in that coffin, now the money has to come from somewhere else. From Crain's...
Chicago Mayor Richard Daley says he won't use the $1.8 billion windfall he generated by privatizing the Chicago Skyway to give a boost to Chicago Transit Authority funding.

Gov. Rod Blagojevich has suggested the idea of raiding Skyway funds for the CTA after twice coming up with short-term state funding fixes.

But Daley says it wouldn't be prudent for a city to sell assets to use them for its budget. Daley adds that if the governor wants to generate dollars for state infrastructure projects, he could follow the city's lead and lease the Illinois Tollway to a private contractor.
Without any addition state aid the CTA will be forced to make service cuts and fare hikes by January 20th.

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