Thursday, March 29, 2012

Ward Room: Rahm's $7 Billion Chicago Redevelopment

So the next question on this is how can we get some of that money to come our way?
Mayor Rahm Emanuel reportedly has good news for about 30,000 Chicagoans out of work right now.

Emanuel is expected to announce Thursday a "major new infrastructure program" to create tens of thousands of jobs across Chicago by "coordinating the revitalization of Chicago’s infrastructure."

The plan, which includes expanding O'Hare Airport, costs $7 billion, according to The New York Times. It also focuses on improving city streets, water systems, schools, community colleges, parks and spending big bucks on renovating Chicago Transit Authority stations.

Emanuel wants to fund the renewal projects with private funds through the Chicago Infrastructure Trust that he unveiled with former President Bill Clinton earlier this month.

The mayor said during the March 1 announcement that he plans to work with the Trust and debt and equity investors to finance $200-$250 million worth of energy-efficiency projects in city buildings, which would create more than 2,000 jobs.

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