Chicago’s Emanuel Banks on Infrastructure and Reforms

First-term Chicago Mayor Rahm Emanuel is banking on billions of infrastructure investment and government operating reforms, with some help on both fronts from the private sector, to help re-invigorate the city’s economy.
Emanuel’s infrastructure strategy relies on a mix of traditional financing methods and the new trust to bring the city’s physical shape up to “21st standards,” he said. Earlier this year he put a price tag of $7.3 billion on planned public works projects. The mayor said he anticipates using the new trust as a means to parlay funding from private partnerships, union investment and foundations to help complete “transformative” projects and to complement more traditional financing methods like tax-exempt borrowing. “That’s how we have looked at it,” he told the crowd.

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