The 2019 regional Capital Program funding is $840.7 million with a five-year Capital Program totaling $4.339 billion.
Approximately 76% of the 2019 funding is comprised of Federal Funds including Federal Formula and Federal Discretionary funds. Bond funding makes up another 23% and includes bonds issued by RTA, Pace and CTA. Specifically, CTA bond funding consists of newly issued bonds and reprogrammed Ground Transportation Tax Bonds associated with the Red-Purple Modernization project. The remaining funding (1%) includes additional service board funds and RTA ICE funds. Consistent with the previous four approved Capital Programs, this one does not include any new state funds. Lack of new state capital funding leaves transit agencies with significant unfunded capital needs. The region is facing a State of Good Repair backlog of $19.4 billion, which includes the projects that could not be completed on time due to the lack of capital funding. Unpredictability and instability of capital funding affects transit agencies’ abilities to plan and deliver robust capital programs.
As in previous years’ programs, the primary emphasis of the 2019-2023 Capital Program is to continue to bring the system’s transit assets to a State of Good Repair (SGR), and increase capacities in markets with growing ridership.