NEAR WEST SIDE — The Chicago Transit Authority president promised there won't be fare increases or service cuts in 2014 as he rolled out a $1.38 billion budget proposal on Friday.
"I'm pleased to announce that CTA has a balanced budget with no fare increases and no service reductions," Forrest Claypool said at a news conference in CTA Headquarters, 567 W. Lake St.
Claypool said the agency will continue funding construction and renovations in 2014 through the $4 billion capital investment plan that began in 2011.
In Uptown, the CTA will "completely rebuild" the Wilson stop, Claypool said, to "create a modern Red-Purple Line transfer station" at a cost of $203 million.
Near North Side residents can expect construction along the Brown and Purple lines that will "remove slow zones" between the Chicago and Armitage stops, Claypool said. That project will cost $71 million.
And early next year, the CTA will begin construction on a new $240 million 95th Street Terminal, which Claypool said will "provide a major economic boost for the Roseland neighborhood."
"The terminal connects the Far South Side communities to job centers throughout the region," he said.
