Chicago’s plan to extend and revamp its downtown riverwalk got a major shot in the arm from the feds last week.

U.S. Dept of Transportation Secretary Ray LaHood announced the federal government will loan the city $99 million under the Transportation Finance Innovation Act, a program geared at transportation projects of “national and regional significance.” Mayor Rahm Emanuel had previously set his sights on just such funding, as well as financial sponsors for ongoing maintenance.

The project, which is scheduled to be finished by 2016, hopes to draw more attention to the riverfront. Designs by Sasaki Associates, Alfred Benesch & Co., Ross Barney Architects, and Jacobs/Ryan Associates call for six unique identities across six downtown blocks of the Chicago River, such as The Jetty, The Cove, and The River Theater. Read more about the design in AN‘s previous report.