The Associated Press April 24, 2012, 3:37PM ET

Chicago aldermen approve infrastructure plan

The Chicago City Council has approved Mayor Rahm Emanuel's plan to use public-private partnerships to finance infrastructure projects.

Chicago aldermen voted 41-7 on Tuesday to approve the Chicago Infrastructure Trust. Emanuel announced the multi-billion-dollar plan last month, saying Chicago would go ahead with projects without waiting for federal assistance or raising taxes. The trust will start with $225 million in energy efficiency projects for government buildings.

The mayor has said there are five leaders in infrastructure finance interested in investing in Chicago's publicly owned properties. Emanuel has said the properties would "stay Chicago's publicly owned properties."


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