CHICAGO-Chicago Transit Authority president Forrest Claypool believes that the use of a public-private partnership could be the key to finally completing the $1.5-billion Red Line extension project.

The CTA has hired Goldman Sachs to study whether a public-private partnership or P3 would be beneficial. In his successful campaign for mayor, Mayor Rahm Emanuel promised to complete the five-mile extension of the Red Line to 130th St. A P3 would involve private contractors designing, building and financing the Red Line extension for a fixed price, according to a report in the Chicago Sun-Times.

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