Chicago Approves $1B Public-Private Infrastructure Trust

Law360, New York (April 24, 2012, 9:20 PM EDT) -- The Chicago City Council voted Tuesday to approve the Chicago Infrastructure Trust, a public-private partnership Mayor Rahm Emanuel has said could raise more than $1 billion for infrastructure projects, starting with $200 million for energy-efficiency improvements at city buildings.

The City Council voted 41-7 to approve the creation of the trust, which officials have said will let projects like the Retrofit Chicago energy plan raise money through taxable and tax-exempt debt structures, equity investments and other means. The trust will operate as a nonprofit organization with...
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