(Chicago, IL) — June 23, 2011. Governor Pat Quinn announced today a $100 million capital investment to finance local transportation projects, including more than $12 million for Chicago.
“The important capital investment will help communities throughout our state to address their infrastructure needs directly and create jobs at the same time,” said Governor Quinn.
The $100 million announced by the Governor is funded through the six-year, $31 billion Illinois Jobs Now! program and is the second tranche of five $100 million annual investments to fund municipal, township and county projects statewide.
The Projects, which will be selected and managed locally and with the Illinois Department of Transportation providing oversight, include street and bridge maintenance, upgraded traffic signals, new storm sewers and bike baths, sidewalk replacement and pothole repairs.
Cook County is receiving $16,739,339.15 for projects of which $12,576,474 is going to Chicago.
“These road projects will generate both good paying jobs and long-term economic benefits that are the result of upgraded infrastructure,” said State Rep. Sara Feigenholtz (D-Chicago), who backed the original capital projects legislation.
“We are extremely proud to work with our communities so they can fix their roads and bridges and address other needed projects,” Illinois Transportation Secretary Gary Hannig said.
The local component of Illinois Jobs Now! is distributed to local governments based on the same formula as the state motor fuel tax. The funding announced today will boost the annual distribution of the motor fuel tax by 17 percent.