The City Council unanimously approved a redevelopment agreement establishing a new transit TIF around a 5.3 mile stretch along the CTA’s Red and Purple Line, solidifying a local revenue source needed to capture a $1.1 billion grant from the federal government. The special TIF district, which has a 35-year term, will help pay for a portion of the CTA’s $2.1 billion plan to upgrade Chicago’s busiest and oldest train line, increasing capacity by 30%.