Chicago OKs private investment for infrastructure

[Eugene]

Source: Reuters

Chicago OKs private investment for infrastructure

CHICAGO | Tue Apr 24, 2012 3:45pm EDT

(Reuters) - A controversial plan to tap private investment to rebuild Chicago's infrastructure, part of a larger spending plan for $7.2 billion, won approval from the city council in a 41-7 vote on Tuesday.

Mayor Rahm Emanuel pushed the Chicago Infrastructure Trust as a way to pay for projects without the tax increases that would be required if the city pursued traditional financing methods such as the issuance of general obligation bonds.

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Emanuel, who has outlined plans for spending $7.2 billion to rebuild the city's aging subways, sewers and schools, has said the projects would be paid for through the trust and through reforms, efficiencies, cuts in city bureaucracy, and direct user fees.

Each project financed through the trust will have a customized financing structure using taxable or tax-exempt debt, equity investments and other forms of support, according to the mayor's office.

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Read more: http://www.reuters.com/article/2012/04/24/us-chicago-infrastructure-idUSBRE83N17K20120424

[unkachuck]

1. "...financing structure using taxable or tax-exempt debt, equity investments and other..."

....instead of taxing the rich, Democrats are borrowing from the rich turning us into Greece....I wonder how much they're getting in campaign kickbacks? Nothing has changed.

....unbelievable, we've got to pay this shit off down the road....rahmbone, Gods' gift to Liberals....

[JDPriestly]

2. Instead of taxing the rich, the government borrows from the rich and then the

poor and middle-class taxpayers pay the rich interest for, thank you, lending the government the money. This was Schwarzeneggers big mistake. And that is why California can't afford anything. Talk about austerity.

[kysrsoze]

3. Man, I hate that prick. He's picking up right where Daley left off.

We all knew it was going to happen too. But so many idiots here voted for him anyway.