Emanuel to Name Chicago Infrastructure Trust Board
Mayor Rahm Emanuel will name the members of a new board that will focus on getting the private sector to invest in public projects in Chicago.
Mayor Rahm Emanuel is expected to name the members of a new board today that will focus on getting the private sector to invest in public infrastructure projects in Chicago, according to the Chicago Tribune.
The Chicago Infrastructure Trust will consist of business executives, a labor leader and a formal City Hall watchdog all led by James Bell, who recently stepped down as executive vice president of Boeing Co.
Additional members of the board will be Diana Ferguson, a formal chief financial officer at Sara Lee Foodservice; David Hoffman, the former city inspector general; Jorge Ramirez, president of the Chicago Federation of Labor; and Alderman John Pope, the paper reports.
The board will function as a nonprofit to make deals with private investors and then work with the city and its sister agencies to decide which projects to undertake.
The trust’s first project, Retrofit Chicago, requires $225 million in loans from private investors to make energy efficiency upgrades to municipal buildings, according to the Tribune.
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