Metra could borrow from feds to fix 100-year-old bridges
Metra may leverage low-interest federal loans to replace or repair some of its oldest bridges.
At a Wednesday meeting, board members appeared supportive of the plan to borrow about $230 million from the Railroad Rehabilitation and Improvement Financing program.
The bridges include 11 on the Union Pacific North Line in Chicago and others on the Milwaukee District and Rock Island lines.
Metra Director and Finance Chairman Ken Koehler recalled a railway bridge failure in Crystal Lake some years ago.
“You don’t want that to happen, it really messes up getting trains back and forth to your communities,” Koehler said.
“We need to take a true leadership role and look at the future and say ‘hey this has got to be addressed.’ We can address it today or we can kick the can down the road.”
There are 926 bridges in the region crossed by Metra trains with the commuter and freight railroads owning 446 and 480, respectively.
Of Metra’s bridges, half are more than 100 years old and 30% are over 75 years old, officials said. They noted the bridges are safe but have passed the expected life span of about 75 years.
Borrowing is “rare” for Metra, financial planners said. The agency could issue bonds but the federal program has lower rates and a long repayment period that could extend to 50 years.
“The investment in our infrastructure and bridges are some of the ways to show our commitment to safety and reliability in the short-term and long-term,” board Chairman Joseph McMahon of Kane County said.
The issue is expected to come back to the board again before a final decision is made.
Project specifics include:
• Replacing 11 bridges on the UP North Line between Fullerton Avenue and Addison Street in Chicago.
• Rebuilding bridges on: the Milwaukee District lines at Grand Avenue in Chicago; and on the North Branch of the Chicago River on the Milwaukee District North in Northbrook. Expanding the bridge on the North Branch of the Chicago River on the MDN near Libertyville.
• On the Rock Island Line: rehabbing the bridge over Hickory Creek between Mokena and New Lenox; and rebuilding the bridge over 96th Avenue in Mokena.