Value Capture: Financing sustainable transportation

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Portions of the North/Clybourn Red Line station were completely rebuilt using funds contributed by Apple in an example of joint development – a value capture financing tool. Photo by Kevin Zolkiewicz.

Ed. note: Jason Saavedra was a fellow student at the University of Illinois at Chicago College of Urban Planning and Public Affairs. He is now a planning, policy and communications consultant and writes for a blog called the Terre Haute Project in Terre Haute, Indiana. -Steven

As a nation, we are not investing enough money in our transportation infrastructure. We pay for transit, sidewalks, roads, and trails using a set per-gallon fuel tax – an unsustainable revenue source (see note 1) – and the recently proposed MAP-21 surface transportation bill does not propose any new fees or tax increases to ensure that federal money will be available to pay the cost of maintaining our transportation system.

The unsustainable nature of our current transportation funding system is not really news,  and Grid Chicago readers are particularly well-informed: we discussed the shortfalls of “traditional” transportation funding in a recent series of posts. But what may be news to you is that forward-thinking local communities are choosing to go the DIY route: they are looking for innovative ways to pay for needed infrastructure investment themselves.

This is where Value Capture (VC) comes into play. Continue reading Value Capture: Financing sustainable transportation

Grid Bits: Street crossings

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Queen’s Landing won’t look like this on Friday: there’ll be a crosswalk and signal here. 

As you consider how you’ll walk to the store tomorrow for some gifts from our guide, know that several people are trying to make street crossings safer. This post is a roundup of different news about how street crossings are changing (for the better) in Chicago.

1. Queen’s Landing

I briefly reported on this two Sundays ago in Grid Shots: Pedestrian access edition. The new crosswalk opened today.

2. Crossing Western Avenue in the 47th Ward

In Alderman Pawar’s email newsletter on Wednesday, he mentioned that he requested CDOT to improve pedestrian signal timings at Western and Sunnywide, Western and Irving Park, and Western and Waveland. “Over the summer I learned that families, school children and senior citizens in our ward have experienced trouble crossing [these intersections]”. Continue reading Grid Bits: Street crossings