The $153 Million Dollar Missed Deadline

City could be out of luck on transportation funds

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    NEWSLETTERS

    The city of Chicago reportedly missed a grant deadline that could prevent it from getting $153 million in transportation funding.

    Oops. The city of Chicago has missed a grant deadline for a $153 million anti-congestion grant.

    Crains is reporting that the Daley administration was forced to put the brakes on an ordinance to raise off-street and garage  fees and  taxes by nearly $8. The measure was intended to help the city get a federal grant for a pilot express transportation system.

    But the ordinance met with big opposition from business groups and missed approval required by a U.S. Department of Transportation deadline of Dec. 31.

    According to Crains, when city officials asked for a two-week extension to get the ordinance passed at the Jan. 13 City Council meeting, outgoing U.S. Transportation Secretary Mary Peters told the Mayor the request was already rejected. 

    Read the full story at ChicagoBusiness.com.