Chicago City Council committee approves funds for Near South Side high school, Red Line extension

CHICAGO - A proposed Near South Side high school is getting some new funds.

The City Council's finance committee approved a proposal dedicating $8 million in city money to allow CPS to buy property for the school.

The school would serve South Loop, Chinatown and Bridgeport students.

However, not everyone is on board. Some believe the proposed lot should be used for public housing.

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Meanwhile, that same committee also approved some city money for a Red Line extension.

It voted to create a new transit tax increment that would fund over $950 million for the project.

The total cost of the extension is more than $3.5 billion. The project extends the Red Line from 95th Street to 130th Street, adding nearly six miles of rail and creating four new stations.