The following op-ed is from The Grassroots Collaborative.
This Wednesday, Mayor Rahm Emanuel plans to introduce an ordinance
that would create a Chicago Infrastructure Trust. Touted as an
innovative solution to create financing for massive projects, the Trust
would enable global financiers to lend Chicago millions of dollars, in
projects that would guarantee profits for their investments. Interested
Firms include Macquerie Infrastructure, which is set to make billions of
dollars already on the skyway.
Chicago's infrastructure needs
are apparent. From school buildings without air conditioning or
libraries, to deteriorating bridges, to broken street lights and
potholes pocketing neighborhood streets, the needs are long.
of the Trust, however, are hard to come by. But what does seem clear
is that the Mayor’s plans continue the status quo of squeezing working
families to foot the bills. That's because for these corporations to put
in money, they need projects with revenue streams to generate funds to
pay them back, and then some.
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