Officials from the Chicago Transit Authority Monday said a $20 million federal TIGER grant would allow the agency to move forward with upgrades to a busy transit terminal.

The grant is earmarked for the 95th Street Terminal Improvement Project.

The local announcement was attended by Chicago Mayor Rahm Emanuel, Illinois Gov. Pat Quinn, CTA officials, and members of Congress, including U.S. Sen. Dick Durbin, D-Ill.

The $240 million project will use funds from the federal Transportation Investment Generating Economic Recovery grant that was awarded last week, as well as other federal grants and loans, state funding, and Transit Authority borrowing.

The 95th Street station connects the city’s far south-side communities to job centers throughout the region and serves as a transit gateway for the south side and suburbs.

“This station will be an engine of job growth and opportunity for the entire south side of the city,” Emanuel said in a statement.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.