Chicago Okays $1.7-B Infrastructure Financing Plan
Chicago's City Council on Tuesday approved plans to create a $1.7 billion infrastructure trust that will rely on private investment and bank loans to fund hundreds of millions of dollars in energy and transportation projects.
The initiative is part of a larger plan by Chicago Mayor Rahm Emanuel to invest $7.2 billion in the city's aging subways, sewers and schools, including $1 billion to upgrade more than 100 city rail stations and $1.4 billion to expand capacity at O'Hare International Airport.