Mostly Cloudy
69°FMostly CloudyFull Forecast

Chicago mayor promotes new infrastructure thinking

Published: Wednesday, April 9, 2014 3:18 p.m. CDT

CHICAGO (AP) — Chicago Mayor Rahm Emanuel will use a keynote address Thursday at the Massachusetts Institute of Technology to promote the idea of courting private investors to bankroll infrastructure projects in return for a share of the profits.

The mayor's two-year-old Chicago Infrastructure Trust is about to begin its first project, a retrofit of dozens of city-owned buildings to make them more energy efficient. Savings on utility bills will go to pay back the investors.

MIT's Center for Advanced Urbanism is hosting the two-day forum.

In an interview with The Associated Press on Wednesday, Emanuel said the infrastructure trust is one tool for financing public works projects as traditional sources of funding like federal grants and loans become more scarce.

He says maintaining strong infrastructure investment has helped Chicago attract businesses.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Daily Chronicle.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Watch Now

Player embeded on all DDC instances for analytics purposes.

NIU-Presbyterian postgame

More videos »

Reader Poll

What do you like best about Corn Fest?
Free corn
Live music
Carnival
Street festival atmosphere
Meeting friends and neighbors