The City of Chicago is utilizing $7.3 million in tax increment financing (TIF) to finance a "bus rapid transit" line in downtown Chicago. The TIF funds are being coupled with $24.6 million from the Federal Transit Administration in order to make the project financially feasible.
Studies show that 50% of the commuters that work in Chicago's central business district arrive everyday by bus or train. Bus rapid transit is a fairly new concept in the United States, but systems are springing up all over the world in metropolitan areas.
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