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.